Lansing Elder Law Lawyer: Medicare Planning
All individuals over the age of 65, people with certain disabilities and people with certain end-stage diseases are given health insurance through Medicare. It is a federal program that offers hospital and medical coverage at no cost for these individuals. Additional plans including Medicare Advantage and prescription drug coverage can be purchased through private companies for a monthly fee.
Why do I need to plan for Medicare?
Often times families do not take the time to plan for medical expenses and the costs associated with having to stay in a rehab facilities or a nursing home. These expenses can quickly add up and are often too much for families to handle on their own. Planning in advance will help you protect your assets. When your Medicare coverage is not enough to cover these expenses, it may become necessary for you or a loved one to go on Medicaid.
In addition, an individual who is a qualifying veteran or a surviving spouse may be eligible for an increased pension called the Aid & Attendance benefit through the Veterans Administration. The benefit is designed to aid you when performing personal functions of everyday living such as eating, bathing, dressing and more. It can also be used to help to pay costs associated with a nursing home.
Securing these benefits can take a long time, so it is important to apply early before it becomes necessary to apply for Medicaid. Applying after you are on Medicaid will significantly decrease the benefit you are eligible to receive. The experienced legal counsel at our firm can help you learn more about this benefit. Navigating the application process can be confusing for the Aid & Attendance benefit, contact us today for help with securing this resource.
Whether or not you go on Medicaid or receive the Aid & Attendance benefit, it is imperative to make decisions related to medical care now before something happens. Michigan laws require advance planning years before care is needed in order to protect your assets. Our expert Medicare planning attorneys at Grewal Law are equipped to draw up the necessary legal documents to ensure your assets are protected.
Contact our team for your free consultation today at 517-393-3000.
Applying for Supplemental Medicaid Coverage
As medical costs accumulate after the age of 65, you may find it necessary to apply for Medicaid coverage in addition to the Medicare coverage you already receive from the government. The additional coverage can be used towards long-term care costs associated with stays in rehab facilities or in nursing homes.
Under Michigan law, there are regulations regarding Medicaid eligibility that potentially putting your assets at risk of being taken to cover medical expenses. During the Medicaid application process, you will work with a Department of Health & Human Services worker to identify any assets you have along with income you are currently receiving from Social Security, pensions and other retirement funds.
In the state, there is a five-year lookback period for Medicaid eligibility. Because of this timeframe, it is essential to have a Medicare planning attorney work with you to protect your assets from potential future loss. There are legal mechanisms that can help reduce the likelihood of your property from being taken by the state, but they do not guarantee protection and have to be done in the right away.
Options for Protection
Do not fall for legal myths surrounding asset protection. Often times families assume if they have assets in a trust they are protected from having your property taken. The fact is the government will not take your home to pay Medicaid nursing home expenses. If it is in a trust, they will come after it. If you have your property and other assets in a trust, have our experts at Grewal Law review the documents to determine if you need changes made in order to protect you.
Our skilled lawyers will also help you and your family explore different options to keep your assets safe. When applying for nursing home coverage, you will be required to disclose all of your assets. From the transfer of assets to providing income allowances to family members, we will help you pick the right choice for you. In addition, we will go over with you everything related to Medicaid Spend down and allowances for your spouse.Taking time to plan now will provide you with peace of mind in the event something happens in the future.
Medicare Planning for Your Family
Our Okemos medical planning attorneys and Lansing estate lawyers are ready to help you prepare for taking Medicare coverage. Planning in advance will provide you with more options for your family to keep your assets safe. Contact us at Grewal Law PLLC to help you with Medicare planning today.
Call us today for a free quote at 517-393-3000.