I came across an article this weekend that I thought would be of interest to our readers. As the headline says, it is becoming increasingly more complex for individuals in long term skilled care facilities to qualify for Medicaid. The criteria to qualify for Medicaid is updated quarterly and what was an effective planning technique a year ago or even a few months ago may not be an effective planning technique today. A couple examples of recent changes in the Medicaid laws are extending the look back period for gifts to 5 years from 3 years, and the implementation of estate recovery.
The article gives a couple helpful tips as to how to protect and preserve your assets and still qualify for Medicaid. The most important tip, and one that I cannot stress enough, is to seek professional help. The Medicaid laws are increasingly complex so it is important that you meet with an attorney that specializes in elder law. Many attorneys who aren't experienced elder law attorneys often times are unaware of the strategies that can be implemented to qualify an individual in a long term skilled care facility for Medicaid. By meeting with an experienced elder law attorney, you ensure that you will receive the proper advice on how to provide your loved one with the greatest quality care at the least cost to the family.
If you have a loved one in a long term skilled care facility or a loved one who will need long term skilled care in the near future, and want to learn more about how you can protect and preserve their assets, contact the experienced elder law attorneys at Barsch & Joswick, PLLC to find out how we can help you.
