Don't be assured that a facility where you are placing your loved one can qualify him/her for Medicaid. We understand that during these economic times everyone is more cautious about spending money. However, remember the old adage "You Get What You Pay For?" Here is how our expert counsel can guide you through long term-care planning to Mediaid approval:
1. Access To Information: Once you have provided your personal financial information to the facility it is no longer private. Facilities are not allowed to financially screen perspective residents so beware.
2. Lack of Legal Knowledge: While a social worker may have some working knowledge of Medicaid eligibility requirements they are not a lawyer and cannot counsel you on maximizing your legal rights.
3. Retroactive Medicaid: You may be entitled to up to three months of retroactive benefits if you can prove you were eligible in each of those three months. We can help you become eligible as early as possible.
4. Income Limit: Florida has a monthly gross income limit to qualify. If your gross income exceeds the limit you will need a qualified income trust prepared. Until the trust is set up and funded you will not qualify. Unfortunately, many facilities fail to recognize this and fail to timely inform families.
5. Transfers of Assets:The social worker at a facility is not going to know the current law on how transfers of assets will delay your loved one's ability to be eligible for Medicaid or, be able to tell you how to fix it. Your loved one's Medicaid application will simply be denied and you will have to pay the private pay rate.
6. Blended Families: The social worker at a facility will not be able to counsel people in second or subsequent marriages (including those with prenuptial agreements) about how to keep the maximum amount of assets possible and qualify their spouse for Medicaid.
7. Pensions: The social worker at a facility will not be able to counsel you on how a guardianship or qualified domestic relations order can help you transfer the ill spouse's pension to the healthy spouse.
8. Annuities: The social worker probably does not know the new laws about annuities and so your loved one may not qualify for Medicaid if he/she (or their spouse) owns an annuity that does not meet Medicaid's requirements.
9. Timing: Timing is everything! If the social worker doesn't spot an issue or, spots it late you won't qualify for Medicaid timely and you will pay the private pay rate for a longer period of time.
10. A Balanced Picture: All eligibility requirements must be met otherwise the application will be denied. Don't leave this in the hands of anyone other than a board certified elder law attorney.
Don't wait until you have a crisis to.call our office at 954-382-1997 to schedule a consultation. Let us counsel you about your options so together we have time to implement a plan so you have peace of mind.