Elder law attorneys specialize in addressing the legal needs of seniors by providing comprehensive assistance in various aspects of their lives. For instance, by working with an elder law attorney, individuals can develop comprehensive strategies to protect their assets, qualify for Medicaid long-term care benefits, and ensure financial stability for themselves and their loved ones as they age.
What Is Medicaid?
Medicaid is a healthcare program that provides healthcare services to low-income adults and children. It is also designed to provide financial assistance for long-term care services for seniors. In truth, in the United States, it is the largest source of payment for long-term care. That is why seniors need to explore the benefits it offers.
Medicaid Eligibility
To be eligible for Medicaid in Louisiana, individuals must meet certain criteria, including the following:
- Receive Supplemental Security Income (SSI) from the Social Security Administration (SSA)
- Are disabled according to the Social Security Administration’s definition
- Are a low-income parent of children under the age of 19
- Are under the age of 19
- Have corrected vision no better than 20/200
- Are pregnant
- Have no insurance and need treatment for breast and cervical cancer
- Receive Medicare coverage and are low-income, or
- Are aged 19 to 64 years old, have a household income less than 138% of the federal poverty level, do not already qualify for Medicaid or Medicare, and meet the citizenship requirement
However, if you do not currently meet the eligibility criteria for Medicaid, do not worry. Engaging in proper Medicaid planning with the assistance of an experienced elder law attorney can allow you to strategically organize your assets in a way that enables you to qualify for Medicaid coverage. This means that the government benefit can help you cover long-term care costs, alleviating the need for you to bear these expenses out of your own finances.
Qualifying for Medicaid in Louisiana
The qualification process for Louisiana Medicaid can be quite intricate. It involves various criteria and documentation requirements, making it essential to plan meticulously and seek professional guidance.
Income Requirements
A person’s income must fall below a specific threshold to qualify for Medicaid in Louisiana. This income threshold varies based on the program in question and household size. However, it is important to note that these income limits are subject to annual changes.
Asset Requirements
Medicaid eligibility criteria also include asset consideration, specifically total assets. These assets, which include cash, savings, and property, must fall below a specific threshold to qualify for Medicaid.
Should You Consider Medicaid Planning?
Medicaid planning entails engaging in legal and financial strategies to safeguard your assets while ensuring eligibility for Medicaid assistance. Some common Medicaid planning strategies include creating irrevocable Medicaid Asset Protection Trusts, transferring assets to a spouse or family member, and trying to reduce excess assets in accordance with Medicaid guidelines. These strategies can help individuals and families navigate the complex requirements of Medicaid while seeking to preserve their financial security.
Work with an Experienced Legal Professional
Navigating the rules and regulations of Medicaid can be quite intricate and daunting. The application process involves meeting numerous eligibility criteria, which might seem overwhelming to handle on your own. That is why individuals often turn to an experienced elder law attorney for assistance. These legal professionals specialize in helping seniors understand and navigate the complexities of Medicaid, ensuring that all requirements are met and that they receive the benefits they are entitled to
Contact Losavio & DeJean Today for More Information
To learn more about Medicaid and your options for qualifying for long-term care benefits, contact Losavio & DeJean today and speak with our team.