Medical assistance is basically a state-administered program planned to pay for health care granted to medically poverty-stricken patients. As the cost of long term care is very high which has made medical assistance planning a significantly essential issue for most middle class seniors and their families. Actually, many seniors will need some kind of long term care. Medical assistance planning can facilitate to avoid significant financial burdens, as ongoing care can cost $10,000 or more per month.
Long Term Care: The cost of long term care is very high for middle class families but at the same time some seniors can meet the expense of private pay care, the cost of long term care will swab the savings of all but the richest families in a matter of years. The persons who have planned ahead by acquiring long term care insurance have a degree of sureness and peace of mind, knowing that they have a lesser requirement to rely on other sources in the future. Unluckily, many can’t meet the expense of the high cost of long term care insurance, because of age of medical condition cannot qualify for long term care insurance on the whole. Those who have long term care insurance should be familiar of what their policy covers. Many policies have high rates or offer for only a short period of care in facility. Actually, many who have long term care insurance still have an alternative to Medicaid to pay for their care.
Medicaid Eligibility: The alternative option to pay for care is Medicaid. Medicaid is basically a joint federal-state program which offers medical assistance to low income entities, including those who are 65 or older, disabled or blind. Medicaid is the single biggest payer of nursing home bills in England and serves as the option of last alternative for people who have no other way to economics their long term care. The Medicaid eligibility rules differ from place to place, federal minimum standards and guidelines must be observed.
Medicaid eligibility for long term care was not complicated in the past; there has been a fixed glide towards more complex and limiting rules. The modifications have resulted in complex Medicaid eligibility requirements for those in need of Medicaid profits. It’s no longer as simple as evaluating one’s bank statements. There are a multitude of parameters involving look-back periods, income caps, transfer penalties and waiting periods to plan around.
Contact financial advisor Birmingham Al today to start the process of understanding the matters surrounding Medicaid eligibility and to implement the medical assistance planning and application process.
Medical eligibility criteria: For medical eligibility, one should be fall in the given situations:
- Be age 65 or older.
- Permanent disability which is defined by the Social Security Administration.
- Be blind.
- Be a pregnant woman.
- Be a child, or the parent or caretaker of a child.
Medicaid/Medical Assistance Planning
Obtaining Medicaid eligibility can give the impression like a confusing and frightening task for adult children and spouses. Medicaid is a need-based program administered by the Department of Human Services of the Commonwealth of America, using funding from the federal government.
Your circumstances Are Distinctive
Long term care services include helping you to arrange a Medicaid plan that is specific to your personal circumstances. A medical assistance plan for an individual with reserved assets can be quite different from a plan for a married couple with somewhat more assets. We thoroughly estimate your entire state including your assets, as well as the family’s goals. We are highly skilled in helping individuals to guard assets and qualify for medical assistance.
Did you know it is possible to make a specific medical assistance plan that suits you and your family members a plan that may allow one spouse to maintain financial well-being while the other spouse still becomes qualified for Medicaid?
We can help you set up proper Medicaid/medical assistance plan based upon your specific financial situation.
Making Flexible Medicaid Plans
The medical and financial situation is unique for every person and can change at any time. So, it is very important to make Medicaid plans that are flexible and suitable to a variety of situations.
Medical Assistance (MA), also called as Medicaid, pays for long term care services for eligible individuals.
if you are not eligible?
Contact your CAO and a trained staff member will describe what programs might be accessible to you. You can search these links to learn about additional health care programs.
- Breast and Cervical Cancer Screening and Treatment
- Dental Service
- Health Choices
- Health Insurance Premium Payment (HIPP) Program
- Home and Community-Based Services
- Limited English and Interpreters
- Medical Assistance Transportation Program (MATP)
- Medical Assistance Benefits for Workers with Disabilities
- Mental Health and Substance Abuse
- Pregnancy and Family Planning
- Prescription Drug Coverage
- Physical Health Options
- Mental Health/Substance Abuse Services Options
- There is also a fee-for-service provider physician directory available.
- If you are enrolled in a managed care organization (MCO), you will need to contact your specific plan.