With an aging baby boomer population, concerns about paying for long-term care are front and center for many people right now. This has also led to a burst of programs marketed to individuals at or post-retirement, promising to help with the Medicaid qualification process. When engaging in this, you should consider setting up a meeting with an experienced elder law attorney to walk you through how this process works and what you can do to prepare legally.
Medicaid planning is full of intricacies and strict government requirements, so someone with a background in helping others accomplish similar goals is prudent. As a potential Medicaid beneficiary, it’s also helpful for you to understand how this government program can support your needs for healthcare now and in the future.
Small mistakes can cost you in a big way, especially if you attempt to spend down assets without some insight from an elder law attorney. Since the federal program uses a look-back period to analyze how you might have disposed of any assets, an action you thought that might be helping you could actually delay the time period during which you become eligible for benefits. This is where an attorney’s counsel becomes so important: talk with your elder law attorney about what steps to take to better understand Medicaid and to legally qualify for it.