Confused about Medicaid? You are not alone!
Medicaid planning can be complex. But with the right elder law attorney, like Griboff Law, we can help you prepare for the future possibility of long-term care. Medicaid can be a huge benefit towards protecting your assets, especially if you are in need of nursing home care or in-home care. An experienced attorney can assist with Medicaid eligibility while protecting your assets. Without Medicaid coverage, you will be personally responsible for expending the monthly cost of your elder care.
MARYLAND ANNUAL MEDIAN COST OF CARE (2019)
|IN -HOME CARE||COMMUNITY/ASSISTED LIVING||NURSING HOME FACILITY|
|Homemaker Services $53,768||Adult Day Health Care $21,299||Semi-Private Room $116,070|
|Home Health Aide $54,912||Assisted Living Facility $51,600||Private Room $120,085|
Medicaid is a Federal and State program, the rules vary from state to state. If you reside in Maryland and need Medicaid, then Maryland’s Medicaid state rules apply. You can benefit greatly from an expert in Medicaid planning who understands Maryland’s specific Medicaid application and process for approval.
Without the aid of Medicaid, the cost of a nursing home can wipe out your family’s savings and plans to leave an inheritance for your children. Our firm can help you protect your hard-earned life’s savings from being spent down in order to pay for long-term care.
Some techniques used for Medicaid planning in Maryland include:
- Irrevocable Trusts
- Gift and Return
- Caregiver Agreements
- Life Estate Deeds
- Medicaid Complaint Annuities
Medicaid planning should be started before elderly care is needed, but we can’t predict when nursing homes or in-home care will be necessary. There are still options, even if you have already spent thousands of dollars on senior living care that could have been saved with Medicaid. It’s never too late to apply for Medicaid, even after your loved one has entered a senior living center. Seeking counsel from a knowledgeable attorney, like Griboff Law, can lead to a Medicaid plan that best suits your health care needs. The sooner you call the more options we will have for your long-term care options.
Griboff Law is here to help you and your loved ones understand Elder Law, Estate Planning, and Medicaid Planning. We welcome you to contact us to learn more about how we can help meet your Medicaid planning needs.