Given the odds that you or a spouse will need some type of long-term care in the future, and the extraordinarily high cost of that care, there is a good chance that you or your spouse will need to rely on Medicaid for help paying for long-term care. If that comes to pass, you need to be aware of the potential repercussions that reliance may have on the estate you leave behind when you die. To help ensure that you are prepared, the Medicaid planning attorneys at Legacy Care Law Firm explain the … [Read more...] about What Is the New Hampshire Medicaid Estate Recovery Program?
New Hampshire Medicaid for Seniors: Understanding the Spousal Impoverishment Rules
Numerous myths and misconceptions continue to circulate about Medicaid for seniors. One of those caused many seniors who could benefit from qualifying for Medicaid to shy away from applying. That myth causes people to worry that a spouse will be left destitute if you need to qualify for Medicaid. To help clarify, the Medicaid planning attorneys at Legacy Care Law Firm explain the spousal impoverishment rules for New Hampshire Medicaid for seniors. Why Might You Need to Qualify for … [Read more...] about New Hampshire Medicaid for Seniors: Understanding the Spousal Impoverishment Rules
What Every Senior Needs to Know about Medicaid in Massachusetts
Long-term care (LTC) is a crucial consideration for seniors, as statistics show a high likelihood of needing some form of LTC in the future. Currently, a 65-year-old individual has a 70 percent chance of requiring LTC services at some point. While a majority of seniors can receive assistance at home, over one-third will need care from an assisted living facility or nursing home, which can come with staggering costs that could deplete your retirement nest egg. To help you prepare for that cost, … [Read more...] about What Every Senior Needs to Know about Medicaid in Massachusetts
Is It Too Late for Medicaid Planning?
Like many people, it may never have occurred to you to plan for the need to qualify for Medicaid if you had employer-sponsored or privately purchased health insurance during your working years. Unfortunately, the reality is that many seniors do eventually need to qualify for Medicaid at some point to help with the high cost of long-term care. If you suddenly need to qualify for Medicaid but did not plan for that possibility, is it too late for Medicaid planning to help? A Beverly Medicaid … [Read more...] about Is It Too Late for Medicaid Planning?
Understanding the New Hampshire Medicaid Minimum Monthly Maintenance Needs Allowance
As a senior, you may find that eligibility for Medicaid is crucial to help cover the high cost of long-term care. If so, one of your concerns may focus on a commonly held belief that your reliance on Medicaid will leave your spouse without income and/or assets. To put your mind at ease, the Medicaid planning attorneys at Legacy Care Law Firm explain the New Hampshire Medicaid Minimum Monthly Needs Allowance. Paying for Long-Term Care The longer you live the better the odds are that you … [Read more...] about Understanding the New Hampshire Medicaid Minimum Monthly Maintenance Needs Allowance
Understanding the Medicaid Transfer Penalty
If you are still relatively young, the idea that you may one day need to rely on Medicaid to cover your medical expenses may seem farfetched. The reality, however, is that could actually happen in the future. If you do find yourself in a position where you need to qualify for Medicaid, any recent assets transfer could be problematic. To help you understand, a North Andover Medicaid planning attorney at Legacy Care Law Firm explains how the transfer of assets can impact Medicaid … [Read more...] about Understanding the Medicaid Transfer Penalty
How to Plan for Long-Term Care
As much as we all prefer not to dwell on the possibility, the reality is that we all stand a good chance of needing long-term care at some point during our retirement years. Knowing that, it makes sense to plan for the possibility within your estate plan. The Salem Medicaid planning attorneys at Legacy Care Law Firm explain five common long-term care planning steps. Evaluate your health. Although most people cannot predict the need for long-term care (LTC), evaluating your state of your … [Read more...] about How to Plan for Long-Term Care
Is It Too Late to Save My Assets If I Need to Qualify for Medicaid?
If you have never needed to rely on Medicaid to cover your health care expenses, why would you need to include Medicaid planning in your estate plan? Unfortunately, the reality is that many seniors do eventually need to qualify for Medicaid at some point to help with the high cost of long-term care. If you find yourself in that position, is it too late for Medicaid planning to help? A Woburn Medicaid planning attorney at Legacy Care Law Firm explains how last-minute Medicaid planning may still … [Read more...] about Is It Too Late to Save My Assets If I Need to Qualify for Medicaid?
5 Things You Should Know about Medicaid
Many people make it through their entire working years without ever needing to rely on Medicaid to cover healthcare expenses, only to find that they must turn to Medicaid as a senior. If you are among them, you may mistakenly believe some of the myths and misconceptions about the program. To help clear those up, the Salem Medicaid planning attorneys at Legacy Care Law Firm debunk five of the most common Medicaid myths. I own a house so I will not qualify for Medicaid. This Medicaid myth … [Read more...] about 5 Things You Should Know about Medicaid
Do You Qualify for Medicaid in New Hampshire?
Like many seniors, you may find yourself faced with the need to qualify for Medicaid for the first time in your life. Having never before needed to rely on Medicaid, you may know very little about the program. To get you started, a Nashua Medicaid planning attorneys at Legacy Care Law Firm explains five things you need to know before applying for Medicaid. Long-Term Care Costs Prompt the Need to Qualify for Medicaid. You are not alone! As of 2019, the average cost of a year in long-term care … [Read more...] about Do You Qualify for Medicaid in New Hampshire?
