Medicaid planning, at its base, is working within the Medicaid laws and rules to protect assets and ensure a suitable quality of life for the patient, the patient’s spouse and the sanity of the patient’s loved ones. It’s comparable to tax planning. The goal is not to evade the system, but to minimize the amount of financial strain through proper planning in advance.
Once a person qualifies for Medicaid, the medical expenses are covered, but the reality is what is left is not enough to maintain the quality of life most of us want for their loved ones. For example, a damaged hearing aid, new prescription glasses or luxuries, like a television or a phone in the patient’s room, may not be covered by Medicaid. Proper planning is needed to make sure funds exist for these types of expenses.
It is always best to start Medicaid planning as far in advance as possible, but most people don’t realize how the benefits work until they are in the middle of a medical crisis and turn to Medicaid for help. At the first diagnosis of Alzheimer’s or Parkinson’s, it is time to enlist the help of an experienced elder law attorney and start planning.
