Medicaid Planning
By Carl McClurg Jr
 A long-term illness can have devastating effects on patients can their families. Extended periods of care can leave families both emotionally and financially drained.
Nursing home expenses can exceed $72,000 per year with many patients requiring multiple years of care.
Until recently, families had to “spend down” (use their savings) before they could qualify for financial assistance. A long-term illness requiring extended nursing home car could wipe out a lifetime of savings. Most nursing home patients begin by paying for the long-term care expenses themselves but end up on Medicaid* after their own savings have been spent down.
This no longer has to be the case…
The Solution
Recent legislation has acknowledged the financial needs of family members of nursing home patients suffering from a long-term illness. New Medicaid regulations and insurance programs provide financial protection from costly nursing home care.
MEDICAID PLANNING
The Medicaid rules allow very specific strategies that may be utilized to protect savings from extended nursing home stays.With professional planning, hard-earned family savings may be preserved to provide financial support for the at-home spouse and/or family members. Medicaid Planning may also benefit single nursing home patients.
Medicaid Planning is most effective prior to a nursing home admission. However, private-paying nursing home patients can almost always save money. The sooner you call us, the more money you will save.
Medicaid Planning requires a local Financial Planning Specialist, a local Estate Planning Attorney and Medicaid Planner trained in the rules and regulations. Together, as a team, they can create and administer a plan to minimize the financial impact of long-term care.
Find out how the Medicaid Planning regulations can benefit you and your family.
Call to schedule a free initial consultation 513.886.5009 or 866.729.5683
|
|
Need a financial planner? Get matched to financial planners, stock brokers, and investment advisors in your area.
|
|
Find a Local Financial Planner
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
About the Author
| Carl McClurg Jr, Complete Wealth Strategies
6398 Suehaven Court
Cincinnati, OH 45248
513-886-5009
Contact Author: request info
If you would like to re-print this article, please contact the author.
|
|
|
|
|
|
|
|
|
Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.
|
|