Tailored plans to meet Medicaid requirements while protecting assets.

Senior couple talking with healthcare provider

It can be a very emotional time when facing the illness of a spouse or aging parent. Finding the best care for your loved one is critical. Yet, the fear of how to pay for that care can be overwhelming and impede any action. You do not have to be alone when making these decisions.

Our experienced Board Certified Attorneys in Medicaid planning offer compassionate guidance and custom strategies. We ensure that you understand all your options and provide personalized legal guidance to meet eligibility requirements and safeguard your assets. With our support, families facing the challenges of caring for elderly or disabled loved ones can access Medicaid benefits with peace of mind and financial security.

Frequently Asked Questions about Medicaid Rules and Regulations

Issues regarding the elderly and disabled are complex, and navigating Medicaid laws can be challenging. Here are answers to some frequently asked questions:

How Do I Apply for Medicaid?

Please, do not rush to fill out a Medicaid application. In fact, we often see avoidable mistakes made by applying too soon, even if you think you already meet Medicaid eligibility. Do not allow anyone to apply for Medicaid until you have received one-on-one legal guidance from our office. Planning should precede applying for Medicaid. When necessary, we can develop a comprehensive plan to meet Medicaid’s spend-down requirements, while protecting your assets. Our comprehensive plans will include our services for filing the Medicaid application.

Will Medicaid Take My House or Car?

A car of any value will not be counted as an asset. Your home is also not a countable asset as long as your equity value is less than $713,000.

If My Spouse Needs Medicaid, What Can I Protect?

Assets exempt from Medicaid include:

  • One vehicle less than 7 years of age
  • Multiple vehicles greater than 7 years of age
  • Irrevocable pre-need funeral arrangements
  • Burial plots for the applicant and immediate family
  • A primary residence with the value capped at $713,000 for single applicants
  • Life insurance with the face or cash value capped at $2,500
  • Burial expense fund capped at $2,500
  • Personal effects and household goods
  • Retirement accounts (if taking periodic systematic withdraws)
  • Countable assets for the spouse may equal $154,140, while the ill spouse may keep $2,000. While most income of an ill person must be paid to the nursing home, an unlimited amount of income belonging to the spouse may be kept.

Medicaid Assistance in the Tampa Bay Area

Hemness Faller Elder Law provides comprehensive Medicaid assistance services. Our team assists clients in understanding Medicaid eligibility requirements, navigating the application process, and developing comprehensive plans to protect assets while obtaining benefits. We clarify concerns regarding asset exemptions and provide personalized guidance to ensure clients can access Medicaid benefits with confidence.

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Feel free to ask something, we are here for you!