• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Medicaid Planning / What Is Medicaid in St Louis Missouri?

What Is Medicaid in St Louis Missouri?

January 18, 2014

Medicaid Planning Tagged With: incapacity planning, long-term care planning, medicaid in st louis missouri, Medicaid Planning

medicaid in st louis missouriPeople have a number of misconceptions about the Medicaid program. Because you, or someone you love, may someday need benefits provided by the program it pays to clear up those misconceptions now.

Medicaid is a healthcare program that is predominantly funded by the federal government but is administered by the individual states. Medicaid should not be confused with Medicare. Medicare is also a federally funded healthcare program but Medicare is administered by the federal government, not by the states. Furthermore, Medicare is an entitlement program, meaning everyone who reaches the age 65 (and in some cases people under age 65) qualifies for Medicare benefits. Medicaid, on the other hand, is a means program that requires an applicant to prove eligibility. Proving eligibility in St Louis Missouri requires, among other things, a showing that the applicant’s income and resources are below the program limits. These limits are usually very low. The resource limit for some Medicaid programs, for example, is as low as $2,000.

Like many people you may be under the impression that you will never need Medicaid benefits because you have private health insurance and you know you will qualify for Medicare at some point in time. What you may not realize is that most private health insurance policies do not cover the cost of long-term care. Medicare does not cover these costs either. For this reason alone you may someday need to qualify for Medicaid in St Louis Missouri.

Long-term care costs can quickly deplete a life time of savings for the average person. In Missouri, a year’s stay in a long-term care facility will set you back, on average, about $75,000. The average stay in a long-term care facility is two and a half years. That’s almost $200,000 in costs that are not covered by Medicare or most private health insurance policies. This alone is what prompts many people to include Medicaid planning in their estate plan even if they have a good health insurance policy at the time they create their plan.

If you suddenly find that you need long-term care and apply for Medicaid at the last minute you may find that your resources disqualify you for immediate benefits. You will then be required to “spend-down” those resources before benefits are available. Transferring assets at the last minute isn’t an option either because Medicaid has a five year “look-back” period. Assets transferred during that period will likely be attributed to your resources at the time of application and cause you to incur a penalty, or waiting, period.

Now that you better understand the Medicaid program and why you might someday need to qualify you may wish to discuss including a Medicaid plan in your overall estate plan with your St Louis Missouri estate planning attorney.

  • Author
  • Recent Posts
Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
Latest posts by Paul Gantner (see all)
  • Show Your Love by Creating an Estate Plan - March 21, 2023
  • What You Need to Know About SECURE Act 2.0 - March 14, 2023
  • The Lessons from Lisa Marie - March 7, 2023

Filed Under: Medicaid Planning Tagged With: incapacity planning, long-term care planning, medicaid in st louis missouri, Medicaid Planning

Other Articles You May Find Useful

Affton Medicaid attorneys
Key Reasons Not to Wait to Make a Medicaid Plan
St. Louis Medicaid attorneys
St. Louis Medicaid Attorneys Explain the Transfer Rules
Kirkwood nursing home planning
Kirkwood Nursing Home Planning — Is Long-Term Care Insurance Worth the Cost?
Kirkwood Medicaid lawyer
Kirkwood Medicaid Lawyer Explains Why Planning Ahead Is Crucial
Kirkwood Medicaid planning
When Should Kirkwood Medicaid Planning Begin?
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Missouri Medicaid and Medicare – What Is the Difference?

About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement