The Medicaid Experience.
Medicaid is a state run program that is funded in part by the Federal government and in part by the states. It provides medical coverage and services to individuals who meet certain guidelines, categories, and needs. The Medicaid system is often compared to a maze. Many times, applying for long term care Medicaid can be a cumbersome, stressful, and sometimes even a scary experience. It is always best to plan ahead for the time when you may need Medicaid coverage. Preparing for such a time will make the process much easier and orderly. However, many times people find themselves in a crisis situation. A loved one may need immediate nursing home care and the family finds itself rushing to apply for Medicaid. The Hammerle Finley Law Firm will assist you with both types of Medicaid planning, long term strategies and crisis situations.
Hammerle Finley Plans Your Medicaid.
The Medicaid process is complex. It consists of many rules, policies, and procedures. For instance, in order to be eligible for long-term care Medicaid, the individual must have resided in a Medicaid contracted facility for a minimum of thirty consecutive days and have a need for skilled nursing services as defined by Medicaid. The individual must also meet citizenship andTexasresidency requirements.
As for finances, Medicaid excludes some assets such as one homestead inTexas to which the individual intends to return and one vehicle regardless of its value. On the other hand, Medicaid requires individuals to spend down their financial resources such as checking accounts, savings accounts, IRA’s, CD’s, stocks, and bonds below the $2000 limit in order to qualify for the program. The Hammerle Finley Law Firm assists you in the two areas of asset planning, by calculating the spend-down process just right so that you will become Medicaid eligible just as your assets fall below the limit and by aiding you with converting countable assets into excluded assets. Additionally, Medicaid allows for some assets to be protected for a spouse living in the community. We determine both the amount of assets protected under the spousal impoverishment rules and the amount of assets a couple will need to spend-down in order for the applicant to become Medicaid eligible.
Medicaid and the Look-Back Period.
Medicaid will also look back 5 years prior to the month it receives the application for any assets that were given away. Most gifts or transfers that occurred during that time will be subject to a penalty. We assist you with determining whether or not Medicaid will impose a gifting penalty, calculate how the penalty will be imposed, and plan accordingly. We will also explore whether or not a penalty can be reversed, removed, or reduced.
Medicaid and Asset Recovery.
Also of great concern to many, individuals who apply for long-term Medicaid are subject to the Medicaid Estate Recovery Program. Upon the death of the Medicaid recipient, Medicaid may file a claim against his/her estate, more particularly against the homestead. We help determine whether or not the individual’s estate is excluded from the Estate Recovery Program based upon various exemptions statures.
Hammerle Finley and Your Medicaid Application
We help our clients with Medicaid from start to finish. Our attorneys have business backgrounds and experiences as varied as the clients we serve. See their credentials:
Members: National Academy of Elder Law Attorneys
Hammerle Finley has what you are looking for: a law firm with the practical knowledge to serve your legal needs today, and the vision to help you prepare for your legal needs tomorrow. Our firm is AV-rated under Martindale Hubbell’s Peer Review RatingTM process.
For a consultation with a lawyer at Hammerle Finley, please contact us online or call one of our offices:
Dallas 214 363-9300
Lewisville 972-436-9300
Denton 940-383-9300
Corinth 972-434-4500
Plano 972 -423-3000
*CV, BV and AV are registered certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies. Martindale-Hubbell is the facilitator of a peer review rating process. Ratings reflect the confidential opinions of members of the Bar and the Judiciary. Martindale-Hubbell Ratings fall into two categories – legal ability and general ethical standards.
