What is Medicaid Planning

 

Medicaid Planning in New York is a process of evaluating and organizing a person’s financial and medical information to determine if they may qualify for Medicaid benefits. This process involves exploring various strategies for protecting assets, reducing liabilities, and qualifying for Medicaid coverage without depleting a person’s life savings. Medicaid Planning in New York can help individuals and families access the care they need while preserving their financial security.

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What does an Elder Law Attorney Do?

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An Elder Law Attorney in New York can help you and your family with understanding and applying for Medicaid benefits. This might include helping you create a plan to protect your assets and maximize your eligibility, as well as helping you navigate the complex Medicaid rules and regulations. An Elder Law Medicaid Attorney also helps individuals and families protect their life savings and their homes from the high costs of long-term care, including nursing home care, home care, and assisted living facility costs. This is accomplished by engaging in asset protection planning and planning to qualify for Medicaid benefits.

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Why Medicaid Planning is Important?​

 

Medicaid planning helps ensure that individuals and families are able to receive the health care coverage they need while still preserving their assets. Medicaid planning involves strategizing and taking proactive steps to protect assets and income in order to qualify for Medicaid assistance. This can include transferring assets, setting up trusts, and other strategies. Medicaid planning is important because it can help ensure that individuals and families have access to the health care they need while still preserving their financial security.

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What are the benefits of Medicaid Planning?

 

The benefits of Medicaid Planning are:

• Preserving assets for a spouse

• Protecting assets for children, heirs and other beneficiaries

• Saving funds for quality-of-life items not covered by Medicaid

• Protecting the home from a Medicaid lien

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Our Additional New York Medicaid Planning Services:

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- Medicaid Home Care Coordination

- Home Care and Nursing Home Applications

- Medicaid Asset Protection Trusts

- Asset Protection

- Promissory Note Planning

- Medicaid Fair Hearings and Appeals

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