Oppressive costs charged by nursing homes and other long-term care providers can threaten the financial health of seniors, often forcing families into heartbreaking decisions. At Lyons, Beaudry & Harrison, P.A. in Sarasota, we show clients how careful Medicaid planning can address crucial healthcare costs while making funds available for other needs. The average charge for a nursing home in Sarasota County is $7,000 per month, and rates are rising annually. With personalized counsel from one of our qualified Florida Medicaid planning attorneys, you can secure coverage for long-term care while maintaining access to the assets you’ve accumulated.
Long-term care can take a heavy toll on people and their loved ones, but careful planning permits you to transfer or dispose of your assets so that you can qualify for Medicaid benefits. Of course, not every expense an elderly person has is covered by Medicaid, so our elder law attorneys develop programs by which you can use the transferred assets to fund other items. After reviewing your situation, we’ll clearly explain issues such as:
As the baby boomer generation increasingly relies on the services of nursing facilities and other providers of extended care, competition will increase for the funds available under Medicaid. Our knowledgeable attorneys keep apprised of the latest legal developments in this area and offer counsel that is specifically tailored to your circumstances.
Navigating the legal requirements and paperwork involved with proving Medicaid eligibility tends to be difficult for people unfamiliar with the process. Filling out an application incorrectly or providing inadequate evidence can lead to a denial. By thinking ahead before you need Medicaid, you may be able to avoid some of the challenges faced by many applicants. Effective Medicaid pre-planning enables you to do the following:
Working with a skillful Medicaid planning attorney reduce the time, money and stress associated with meeting long-term needs. Our elder lawyers are thorough, caring advisers, looking to achieve positive outcomes for every client.
To be eligible for Medicaid, a single person who is over the age of 65 must not own more than $2,000 in countable liquid assets. These include:
Non-countable assets, or exempt assets, are not factored into the calculation of total assets. In Florida, the following types of personal property owned by the Medicaid applicant are considered to be noncountable:
It is important to spend down your countable assets before applying for Medicaid. To avoid violations that could result in costly penalties, a spend down should occur over a period of time prior to applying. Our attorneys can help you create a strategy that fits your circumstances.
Not everyone has the ability to plan ahead for a time when they need Medicaid. Diagnoses can come out of the blue, primary caretakers can leave unexpectedly and personal savings can dry up quickly. If you or a loved one are experiencing a Medicaid crisis and need immediate assistance, one of our lawyers can advise you on available options for funding necessary care. We work tirelessly to help people in emergency situations.
Our seasoned elder care attorneys also advise individuals who are interested in becoming legal guardians to adults. Our guardianship FAQ page provides answers to common questions about guardianship in Florida.
The attorneys at Lyons, Beaudry & Harrison, P.A. in Sarasota, Florida assist individuals and families with Medicaid planning decisions and other matters that affect healthcare funding. To schedule a consultation an experienced lawyer, call 941-444-6407 or contact us online.