You cannot predict the future, but you can take steps to counter certain situations. Americans are living longer lives, thanks to advancement in the field of healthcare in the last few decades. This also means that more people have to worry about long-term care and medical needs. Medicaid is a program funded by the federal government and the states, which offers low-cost or free health care for seniors, people with disabilities, children, and pregnant women. States have their own ways to manage the program. If you want to prepare for your old age, talking to a Medicaid planning lawyer South Jersey can help. For your help, we have answered a few questions below.
- Is it possible to qualify for Medicaid if you have assets?
Yes, you can. The Medicaid program is for the needy, but no one wants to feel destitute in order to qualify for the benefits. Senior citizens and older adults can consider Medicaid planning. Certain transfers and gifts may help you qualify for the program, and you need to work with an elder law or Medicaid planning attorney to know the options. It is best to talk to a lawyer early about Medicaid. You could also qualify for Medicaid if your spouse has assets, but it all depends on the circumstances.
- Who is eligible for Medicaid?
Eligibility requirements for the Medicaid program vary by state. The program is available for those who don’t have too many assets and a low income. People with disabilities, pregnant women, women diagnosed with breast or cervical cancer, and seniors over 65 can qualify for the program.
- . What does Medicaid cover?
The Medicaid program benefits also vary by state. In general, you can expect coverage for hospital bills, lab fees, and long-term care services. Some states have a more expansive coverage, also covering glasses, the cost of mental health treatments, and hospice care. Medicaid may not cover certain expenses associated with nursing home care, including private rooms and eye care. Talk to your lawyer to understand your state’s Medicaid program better.
Medicaid planning is for everyone, and you should consider talking to your attorney before you or your spouse are in need of long-term care. Also, don’t shy away from asking questions related to your circumstances. Many people need to rearrange their assets before they can qualify for the Medicaid program, and it makes sense to talk to an attorney about important pointers that matter.