Medicaid is a government ran medical program that residents must meet income and other eligibility requirements to receive. Medicaid is reliable health insurance that can help seniors have peace of mind in knowing their medications, doctor appointments, and even long-term care is going to be covered. However, because there are strict income guidelines, many seniors need to use a Medicaid lawyer in Sarasota to help meet those guidelines. However, many question whether using Medicaid lawyers is legal or ethical.
Medicaid Eligibility for Florida Seniors
As of January 2021, seniors must make less than $2,382 per month to qualify for Medicaid. You must also have less than $2,000 in combined assets and meets needs testing standards. For most seniors meeting the needs testing standards, being a citizen, and legal resident of Florida are not problems for seniors to meet; however, the income and asset guidelines can often be barriers to Medicaid.
Many seniors own land, property, or other assets that cost much more than $2,000. These assets disqualify seniors from Medicaid because they can be liquidated to pay for nursing homes, assisted living, healthcare or other costs associated with aging and dying. Liquidating assets means there could be nothing left to pass on to children or other beneficiaries. This is where a Medicaid lawyer in Sarasota can get involved.
There are many ways to divert assets to a spouse, into a trust, or other options that are perfectly legal for a Medicaid lawyer in Sarasota help you to create. Moving assets into trusts can be the determining factor in how abundant your children’s future is and an attorney can make sure that abundance is protected. Using Medicaid planning services also protect yourself from making mistakes that could have legal recourse when you are trying to become eligible for Medicaid or move financial assets. The last thing anyone wants is to get entangled in Medicaid fraud.
If you need help planning for Medicaid, call the Law Office of Kimberly K. Muenter at 813-856-3489.