You may not realize it at the moment, but there is a very good chance that you will turn to Medicaid for help at some point during your retirement years. Why would you suddenly need Medicaid if you have never before relied on Medicaid? The answer can be found in the likelihood that you will need long-term care at some point before you die. The longer you live, the greater the odds that long-term care will be needed. That, in turn, leads to the need to qualify for Medicaid benefits to help cover … [Read more...] about 5 Things You Need to Know about St. Louis Medicaid
Can a Missouri Medicaid Attorney Explain the Spousal Impoverishment Rules?
As you get older, the likelihood that you (or your spouse) will need long-term care increases dramatically. The cost of that care, if you do need it, will not be cheap nor will it likely be covered by your basic health insurance coverage. Medicare won’t help cover your long-term care expenses either, leaving Medicaid as the only available source of assistance for many seniors who need long-term care. To qualify for Medicaid though, you cannot have income that exceeds the (very low) program limit … [Read more...] about Can a Missouri Medicaid Attorney Explain the Spousal Impoverishment Rules?
How Can I Protect My Assets When I Apply for Medicaid in St. Louis?
At some point in your life, most likely when you are older, you may need to qualify for Medicaid benefits in order to cover the high cost of long-term care. If you have never needed Medicaid benefits before, you may not know what qualifying entails. This is one of those cases where a lack of knowledge can truly hurt you because it may result in putting your assets at risk. The best way to protect your assets when applying for Medicaid in St. Louis is to include Medicaid planning in your overall … [Read more...] about How Can I Protect My Assets When I Apply for Medicaid in St. Louis?
Understanding the Look Back Rule for Missouri Medicaid
Like most people, you may very well make it to the end of your working years without ever giving Medicaid eligibility a second thought. After all, you had employer sponsored health insurance and your income was (fortunately) too high to qualify for programs such as Medicaid. Why then, would you need to worry about being eligible for Medicaid during your retirement years? Moreover, what is the “look-back” rule for Missouri Medicaid and why is it important? The answers to these important questions … [Read more...] about Understanding the Look Back Rule for Missouri Medicaid
How Long Does It Take to Qualify for Medicaid in Missouri?
At some point in your life you may need to qualify for Medicaid coverage. Unless you have previously been enrolled in the Medicaid program in Missouri you will likely have no idea how to apply or how long it takes to qualify for Medicaid in Missouri. Just to make things a bit more confusing, the passage of the Affordable Care Act has expanded Medicaid coverage in some states yet reduced coverage in others. Medicaid is a federally funded healthcare program that is intended to provide coverage for … [Read more...] about How Long Does It Take to Qualify for Medicaid in Missouri?
Is Your Home an Available Asset for Medicaid Eligibility in Missouri?
Whether you are aware of it or not, there is a very good chance that you (and/or your spouse if you are married) will need to qualify for Medicaid benefits at some point during your “Golden Years”. Qualifying for those benefits can be tricky, particularly for older individuals because of the assets they have acquired over a lifetime of working and saving. Eligibility for Medicaid is based, in part, on an applicant’s income and “available assets”. If either exceed the program limits you will be … [Read more...] about Is Your Home an Available Asset for Medicaid Eligibility in Missouri?
How Does Medicaid Apply to A Married Couple?
If you are married there is a very good chance that either you and/or your spouse will need long-term care at some point during your “golden years.” When that time comes you will need to figure out how you plan to pay for that care. With an average annual cost of over $75,000 and an average length of stay of 2.5 years, paying for long-term care can rapidly deplete a life savings if you are forced to pay out of pocket. Medicaid may be able to help; however, you must first be found eligible for … [Read more...] about How Does Medicaid Apply to A Married Couple?
What Happens to Your Home If You Need to Qualify for Medicaid?
As you age you may start to worry about some of the practical realities that come along with the natural aging process, such as the likelihood of needing long-term care at some point in your life. Give the high cost of long-term care you may start to wonder how you are going to be able to pay for that care should you need it one day. For many people, Medicaid is the best option; however, what happens to your home when you need to qualify for Medicaid? What about your other assets? Because of the … [Read more...] about What Happens to Your Home If You Need to Qualify for Medicaid?
What Is Medicaid’s “Look-Back” Period?
At some point during your “Golden Years” there is a better than average chance that you and/or your spouse will need long-term care. As a result, there is also a better than average chance that you will need to qualify for Medicaid to help cover the costs of that care. Qualifying for Medicaid can be a complicated process, involving a number of potential obstacles. One of those potential obstacles is Medicaid’s five year “look-back” period. By taking the time to understand the Medicaid … [Read more...] about What Is Medicaid’s “Look-Back” Period?
How Can I Protect My Spouse When Applying for Medicaid?
Unless you are fortunate enough to be able to pay out of pocket, during your retirement years there is good chance that you will need to qualify for Medicaid benefits to help cover the high cost of long-term care. You may have heard stories about how applying for Medicaid can negatively affect a spouse who is not in need of long-term care, leading you to ask “ How can I protect My spouse when applying for Medicaid? The best way to protect both you and your spouse is to include Medicaid planning … [Read more...] about How Can I Protect My Spouse When Applying for Medicaid?
