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Medicaid Planning

You don’t have to exhaust your life savings paying for care. Get unique solutions for your situation.

Medicaid planning allows you to age with dignity.

You might be under the impression that the only way to qualify for Medicaid is to deplete your assets paying for care. Well, we have some good news for you—there is a better way. Medicaid planning involves working with an elder law attorney to rearrange assets using legal strategies that allow you to preserve your hard-earned savings while also staying within Medicaid’s strict rules.


Medicaid planning can help you:


Qualify for Medicaid benefits faster.
Protect assets for your spouse or the next generation.
Eliminate or reduce the long-term care bill.

Find out if Medicaid planning is right for you.

Select an option to start
Who needs a plan?

What type of long-term care are they receiving?

How soon until they will need long-term care?

Are they concerned about future long-term care costs?

Are they hoping to pass on a legacy for future generations?

Get recommendations for products, strategies, and local professionals who can help - all inside!

Why Medicaid Planning?


Obtaining Medicaid benefits allows you to preserve your nest egg and escape the financial devastation of long-term care.

Unfortunately, many seniors believe they will never require long-term care and, therefore, fail to plan ahead. Plus, most people incorrectly believe Medicare can be used to pay the nursing home. In reality, Medicare only provides coverage in some long-term care situations, and these benefits expire after just 100 days, leaving you to privately pay for care.

That’s where Medicaid comes in.

An Introduction to Medicaid


Medicaid is a federal and state program that helps cover healthcare costs for individuals and families with limited income and resources. It provides assistance for multiple groups of people, including the elderly, blind, and disabled. In fact, Medicaid pays for over 60% of long-term care costs in the United States. In the context of long-term care, Medicaid will cover the entire cost of care, including room, board, pharmacy, and incidentals, minus a small co-pay in some cases.


Protecting your assets from a long-term care need can be complicated. That's why working with a professional is crucial to obtaining Medicaid eligibility.


In order to qualify for benefits, you must meet Medicaid’s strict eligibility requirements, which vary by state. Since each state runs its own Medicaid program, it’s important for you to follow the specific rules in your state. But don’t worry—when we connect you with an elder law attorney in your area, they will be well-versed on the Medicaid rules you’ll need to follow.

Fortunately, some basic Medicaid requirements are standard across most states, so we can walk through the basic non-financial and financial criteria.


Non-Financial Requirements:


To meet the non-financial requirements for Medicaid as it pertains to long-term care, you must be:

  • A U.S. citizen or qualified non-citizen
  • Age 65 or older, blind, or disabled
  • Residing in a Medicaid-approved facility


Financial Requirements:


Since Medicaid is a means-based program, your income and assets must be below certain limitations before you can qualify. Again, the specific limitations vary by state. In most states, however, the Medicaid recipient’s income must be less than the cost of the nursing home. With most bills running $8,000/month or more, most seniors easily meet this requirement.

When it comes to assets, the rules are a bit more complex. A single person can typically keep about $2,000 in countable assets and still qualify for Medicaid. For married couples, however, the ill spouse is limited to the $2,000 allowance in most cases, but the healthy spouse is able to keep a much larger amount. This allowance varies greatly by state but can exceed $100,000 in many cases.

Although you might be tempted to simply give away your assets in order to fall below these asset requirements, Medicaid has rules against this. When you apply for benefits, the state Medicaid agency will look back over your finances from the last five years for any gifts or divestments. If they find any, you will be subject to a penalty period of ineligibility based on the amount gifted.

Understanding Your Options

When it comes to Medicaid planning, nursing home operators and social workers are simply unable to provide the right advice. This leads many seniors to believe the only way they can meet Medicaid’s requirements is by spending all of their hard-earned money on the nursing home bill.

We’re here to tell you this simply isn’t true. You have options.

Medicaid’s rules and requirements are complex, and they can be confusing for seniors and loved ones who are just looking for a way to stop the financial bleeding. That’s why it’s so important for you to work with a knowledgeable legal professional you can trust.

That's why you should give us a call today at Senior Care Counsel.


Have questions about your situation?
Call Senior Care Counsel at (844) 412-4222

Evaluating Your Assets

The first step in the Medicaid planning process is examining your assets. Medicaid separates an individual’s assets between countable and exempt. While countable assets count toward the asset limitations, exempt assets do not. Here are some of the most common countable and exempt assets.

Countable Assets:

  • Most annuities
  • Cash and bank accounts
  • Investments, stocks, and bonds
  • Additional homes, vehicles, and land
  • Life insurance policies exceeding $1,500 (in most states)
  • Retirement accounts (in most states)*

Exempt Assets:

  • The primary home
  • One vehicle
  • Personal property and household items
  • Irrevocable funeral expense trusts of $15,000 or less (in most states)
  • Life insurance policies below $1,500 (in most states)
  • Retirement accounts (in select states)*


Have questions about your situation?
Call Senior Care Counsel at (844) 412-4222

Spending Down & Protecting Your Nest Egg

After evaluating you or your loved one’s assets, the next step is to spend down the excess countable assets to be within Medicaid’s asset limitations. This can be done using a variety of strategies, including buying or upgrading exempt assets and purchasing certain insurance products designed for Medicaid planning.

The result? Protected savings and accelerated Medicaid eligibility.

Even if you have as little as $30,000 in life savings, Medicaid planning can help you leave an inheritance and age with dignity.

View Common Medicaid Planning Products >

Planning Guides


Paying for Long-Term Care
The Essential Senior Guidebook

Take a deep dive into the long-term care landscape, find out how you can protect your hard-earned assets, and get answers to your most pressing planning questions.

Want to see real-life Medicaid planning cases in action?

Common Medicaid Myths

Fact: The cost of leaving your assets unprotected far outweighs the cost of an elder law attorney. Plus, when you book with us, your first consultation with an attorney is free!

Fact: Any savings is worth protecting. Even if you have less than $30,000, you deserve to preserve your nest egg for your spouse or children or as an inheritance for future generations.

Fact: Although Medicaid has asset limitations, you do NOT have to be poor to qualify. You can utilize Medicaid planning solutions to preserve what you have worked so hard for your entire life.

Fact: Yes, Medicaid has rules about giving money away. But that doesn’t mean you can only spend your money on care before you qualify for benefits. Medicaid planning provides other options to spend down your hard-earned savings while also protecting it.

Fact: As long as you still have a portion of savings, it’s never too late to plan. Even if you or a loved one is already in the nursing home, there is a Medicaid planning solution for you.

Get free advice tailored to your unique situation.

Take the first step in protecting your life savings by contacting us. Our friendly staff is ready to take your call and help you understand the options you have to preserve what you’ve worked so hard to build. Your representative can provide:

  • Free insights for your situation
  • A free customized case analysis
  • A free consultation with a local planner

Call Us Directly at (844) 412-4222

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