Tag: medicaid planning lawyer

Medicaid Planning with Annuities for Married Couples

If you or a loved one is facing the need for long term care, that is nursing home, assisted living or home care, you know how expensive it is. Medicaid planning utilizes legal and financial strategies to qualify for government programs like Medicaid to pay for long term care and save you and your family money. Annuities are a popular tool in Medicaid planning for both single individuals and married couples. This post will explain how annuities are often a great tool for married couples.

When one spouse needs long term care, it takes a financial toll not just on the individual but on the individual’s… Read the rest

8 Key Tips to Drafting a Personal Care Agreement for Medicaid Planning Purposes

If you are considering drafting a Personal Care Agreement for Medicaid planning purposes, please review the following 8 Key Tips.

Does Medicare Cover Nursing Home Care Costs?

Medicare Part A provides limited coverage for skilled nursing care if certain requirements are met.   However, even if your care is Medicare Part A eligible, it only covers the cost of a skilled nursing facility for up to 20 days, with the possibility of an additional 80 days on a co-payment basis. The average nursing home stay is 2.4 years.

Beyond the limited time that Medicare Part A will cover care is the simple fact that it does not cover the majority of nursing home care because most residents of a nursing home do not require skilled care, which is a prerequisite for Medicare Part A coverage. … Read the rest