Why Medicaid Eligibility Matters If You Need Nursing Home Care: A Guide for Annapolis Residents
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Transcript of Why Medicaid Eligibility Matters If You Need Nursing Home Care: A Guide for Annapolis Residents
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
WHY MEDICAID ELIGIBILITY MATTERS IF
YOU NEED NURSING HOME CARE
A Guide for Annapolis Residents
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
MANY SENIORS NEED NURSING HOME CARE
Around 70 percent of seniors 65 and up will eventually spend some time in a nursing home at
some point during their life.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
A senior 65 or older has a 40 percent change of ending up
spending time in a nursing home, and a 20 percent chance of
spending five or more years in a nursing home
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
NURSING HOMES ARE EXPENSIVE
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
The median annual cost of a semi-private room in a Maryland nursing
home is $113,150.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
The median annual cost of a private room in a Maryland nursing home is
$110,230
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
MOST INSURERS WON’T PAY FOR THE TYPES OF NURSING
CARE PATIENTS NEED
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
Most insurance providers, including Medicare, limit coverage for nursing homes to situations where skilled
services are needed.
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Examples of skilled services could include changing bandages after
surgery.
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The kinds of routine custodial care most nursing home patients need is
not going to be covered.
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MEDICAID CAN PROVIDE COVERAGE
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Medicaid may be the only available source of coverage for nursing care.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
This could mean you end up paying privately for a nursing home out of your own pocket if you don’t qualify
for Medicaid.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
MEDICAID HAS RESOURCE LIMITS
There are strict resource limits for Medicaid.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
If you own too many assets- as many seniors do- you cannot get
benefits until you spend down your assets.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
MEDICAID PLANNING CAN HELP
Medicaid planning can help you to get coverage while protecting your nest egg.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
With assistance from a Medicaid planning lawyer, you may be able
to make sure you get covered while still keeping money and property to
leave a legacy for loved ones.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
PLANNING ALSO PREVENTS ESTATE
RECOVERY
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
Making a Medicaid plan can also keep your assets safe from Medicaid estate recovery.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
Medicaid estate recovery requires states to make claims against your estate to try to recoup Medicaid
money spent on your care if you’re over 55 or Medicaid money spend
on nursing homes.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
ACTING IN ADVANCE TO MAKE YOUR PLAN
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Medicaid looks back five years to see if you transferred any assets
when deciding if you’re eligible for Medicaid.
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Asset transfers result in a period of disqualification.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
This means you need to make a Medicaid plan early on.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
GETTING LEGAL HELP
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
Contact an experienced Maryland Medicaid planning lawyer to make your plans and protect your assets.
ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF
Or visit our website www.sinclairprosserlaw.com
Nicole Livingston
Jon J. Gasior
Colleen SinclairProsser
Victor A. Lembo