Palm Coast Medicaid Planning Lawyer

Palm Coast Medicaid Planning Attorney

Medicaid is a government-funded program that helps low-income individuals pay for a variety of medical expenses. For seniors who require long-term care and assistance, the program can be particularly beneficial. However, some seniors find themselves ineligible for the program, while others need help with the application process. When this happens, it may be wise to consult a Palm Coast Medicaid planning lawyer to guide you through the process.

At The Preston Law Firm, we have decades of experience in helping clients navigate the complex Medicaid process. We understand that, while aging can be a beautiful and rewarding experience, it can come with increasing healthcare expenditures, day-to-day living costs, and other expenses.

What Is Medicaid Planning?

As people age, their medical expenses tend to increase, especially for long-term care, such as nursing home care. While Medicaid is beneficial for reducing these costs, some elders do not qualify. This is where Medicaid planning can be critical. It is the process of arranging assets and income in such a way that seniors have an increased chance of qualifying for Medicaid. Medicaid planning also helps preserve assets that are set aside for heirs and beneficiaries.

In other cases, Medicaid planning simply involves helping applicants navigate the application process. This may include collecting and organizing documentation or helping seniors navigate the process, especially if they and their spouse have different needs.

Palm Coast applicants can apply for Medicaid services at the Flagler County Health Department Medicaid Office.

Florida’s Medicaid Eligibility Requirements

Each state has its own eligibility requirements for Medicaid, and Florida is no exception. In 2023, 14.9% of Flagler County residents enrolled in Medicaid, which also has a fast-growing elderly population. This is a key demographic who may benefit from Medicaid. It may also be useful for them to know the following income and asset limits for each type of Medicaid plan:

• Traditional/Regular Medicaid Asset Limit: $5,000 for single and $6,000 for married
• Traditional/Regular Medicaid Income Limit: $1,149 for single and $1,552 for married
• Nursing Home Medicaid Asset Limit: $2,000 for single or each spouse and $3,000 for married
• Nursing Home Medicaid Income Limit: $2,901 for single or each spouse and $5,802 for married
• Medicaid Waiver Asset Limit: Same as Nursing Home Medicaid
• Medicaid Waiver Income Limit: Same as Nursing Home Medicaid

These values are for a person’s gross monthly income; however, if a senior makes more than the income or asset limit, even just a couple of hundred dollars more, they should consult a lawyer to assist them with Medicaid planning

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How a Medicaid Planning Lawyer Can Help

A lawyer can assist with Medicaid planning in several ways. For one, your lawyer can explore your options if your income and assets are above the eligibility limits. For example, your lawyer can determine if you can:

• Convert your income into Qualified Income Trusts (QIT). Also called Miller Trusts, Qualified Income Trusts allow seniors to place a portion of their income into a trust. This income is not considered when applying for Medicaid.
• “Spend down” your assets. If a senior’s assets are above the asset cap for Medicaid, they can spend down their excess assets. For example, they can start paying for funeral expenses, buy medically necessary home modifications (like wheelchairs or ramps), or pay off debt.
• Convert countable income into non-countable income. Your lawyer can show you how to convert countable income into non-countable income to qualify for Medicaid. Examples of countable income include cash, stocks, investments, non-resident real estate, and bank accounts. Non-countable income includes furniture, personal belongings, automobiles, and the home the person resides.
• Use the Medically Needy Pathway. In Florida, the Medically Needy Pathway allows people with income over the Medicaid threshold to be eligible by spending most of their income on medical bills. The medically needy income limit (MNIL) in Florida is $180 per month for singles and $241 for married couples.

Each of these alternative routes for Medicaid eligibility is legal but has specific rules. This is where a skilled and experienced lawyer becomes invaluable. Not only can they help you collect the necessary documentation and fill out your application, but they can also help you become eligible if you would otherwise not qualify.

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Schedule Your Medicaid Planning Appointment Today

Medicaid planning is essential for seniors who need help with long-term care but have unique situations that may impede their ability to qualify. At The Preston Law Firm, we approach each case with warmth and personalized attention, making sure our clients receive the assistance they need.

To learn more about how we can assist you or your senior loved one, contact us today for a consultation.