Long-term care provided by nursing homes, assisted living centers and home healthcare has received a lot of attention lately. People are living longer, and the average age of Americans is on the rise. Since the likelihood of need for some kind of long-term care is increasing, many Washington, DC metro area residents are exploring elder care planning options. Payment alternatives are long-term care insurance, private pay and Medicaid.
If you are exploring Medicaid as a viable option, understanding the types of Medicaid available and the application process can be daunting. For instance, many people may not be aware that there are three Medicaid options, and each has its own set of requirements for eligibility. Seeking the advice of an attorney could help eliminate any confusion regarding which type of Medicaid would best suit your situation.
You must be over the age of 65 or suffer from a disability to qualify. As for the economic requirement, Medicaid uses a complex formula to determine the amount of "countable resources" available for your support each month. Washington, DC residents must not have countable resources over $4,000 and Maryland residents must be under $2,500. Not all of your assets will be counted toward these resources, but they do include any assets that can be converted to cash or any other source of income you rely on for financial support each month. Determining whether you meet the financial requirements to receive Medicaid can be confusing and may require the assistance of an attorney familiar with how this amount is calculated.
The application process is different in most jurisdictions. Moreover, different documentation may be required as well. Medicaid and long-term care planning do not have to be confusing and frustrating. An attorney in the field can provide answers to your questions and help with the eligibility and application process. Visit our firm site for more detailed information.