Simply because you are particularly healthy at the moment doesn't mean you won't need long-term healthcare at some point. The truth is, you don't have to be sick to need Texas Medicaid planning. Learn more about Texas medicaid in this presentation.
1. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
TEXAS MEDICAID
Why You Need to Plan Ahead
2. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
WHY YOU NEED A MEDICAID
PLAN
3. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Simply because you are particularly healthy
at the moment doesn't mean you won't need
long-term healthcare at some point.
4. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The truth is, you don't have to be
sick to need Texas Medicaid
planning.
5. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
While you may not have health
issues now, you simply cannot
predict how healthy they will be in
30-40 years.
6. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
An unforeseen injury or illness
could result in health issues that
require long-term care.
7. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
In fact, more than two-thirds of all
people over the age of 65 need
long-term care at some point in
their lives. It would be a mistake to
fail to benefit from Medicaid
planning.
8. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
YOUR HEALTH IS NO INDICATOR
OF WHETHER YOU WILL NEED
LONG-TERM CARE IN THE FUTURE
9. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
So many people disregard the fact that
illness is not the only reason you could need
long-term care in the future.
10. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
If you suffer a serious injury from a
car accident for example, it is quite
possible that you may need long-
term care in order to fully recover
from that injury.
11. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
In some situations, loved ones are
admitted to nursing homes not
because of illness per se, but
because of the need for daily
assistance with activities such as
dressing and grooming which have
become more difficult as they age.
12. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
In other words, you cannot only rely
on your relative good health now.
Your circumstances could change
and you need to be prepared.
13. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
HEALTH INSURANCE IS NOT ALWAYS
SUFFICIENT TO COVER THE COST OF LONG-
TERM CARE
14. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Regrettably, far too many people
miscalculate the actual potential cost of
long-term care, which is usually quite
expensive.
15. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The average annual cost of nursing
home care, for a semi-private room
in a Texas nursing facility is
estimated to be between $40,841 -
$43,472.
16. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Add to that the likelihood that
nearly half of the Texas citizens age
65 and older need long-term care
for approximately five years.
17. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
For many families that cost can be
prohibitive. The unfortunate reality
is that Medicare and private health
insurance is typically not enough to
cover these costs.
18. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
THE BENEFIT OF MEDICAID PLANNING
19. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The purpose of Medicaid benefits is to assist
low-income Texas residents in paying for
medical services.
20. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Because Medicaid is a needs-based
program, recipients can have no
more than $2,000 in assets.
21. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
The goal of Medicaid planning is to
keep you from exhausting all of
your resources in order to be
eligible for benefits.
22. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Also, if an applicant for Medicaid
gives away property or assets right
before submitting an application,
those transfers of property can be
seen as fraudulent and result in
your benefits being delayed or
denied.
23. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
However, with careful Medicaid
planning, you can avoid the
appearance of fraudulent transfers.
24. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
SO, WHAT IS MEDICAID?
25. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
One of the primary differences between
Medicare and Medicaid is that Medicaid is
an income-based or needs-based healthcare
assistance program.
26. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Federal, state and local tax funds
are used to aid eligible individuals
with paying their medical expenses.
27. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Generally, Medicaid recipients are
only required to pay a small co-
payment for covered medical
expenses, if anything at all.
28. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Medicaid will typically pay for some
in-home services, but only if a
physician certifies that home care
services are actually needed for
specified medical reasons.
29. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
HOW IS MEDICARE DIFFERENT FROM
MEDICAID?
30. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Medicare is different from Medicaid
in that Medicare benefits are
provided by private companies
through contracts with Medicare.
31. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Whereas Medicaid is run by the state.
32. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Since Medicare is a federal
program, eligibility and benefits are
the same all over the country.
33. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Although Medicaid is no uniform in
every state, coverage is typically
available for eligible adults with
children living below a certain
income level, pregnant women,
seniors and individuals with
disabilities.
35. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Medicare is a federal health
insurance program available for
individuals who are age 65 and
older, disabled, or dialysis patients.
36. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Eligibility for Medicare is not based on need
or income.
37. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Instead, Medicare recipients are
required to pay a portion of their
medical expenses through
deductibles, along with small
monthly premiums for necessary for
non-hospital coverage.
38. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
TYPES OF MEDICARE COVERAGE AVAILABLE
39. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Medicare is divided into two basic
plans that provide different types of
coverage.
40. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
Medicare Part A is an insurance
plan for health care services
provided by hospitals, skilled
nursing facilities, home health care
and hospice care.
41. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
On the other hand, Medicare Part B
is similar to basic health insurance
which covers doctor visits,
outpatient hospital care and other
medical services.
43. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
If you have questions regarding
trusts, or any other estate planning
needs, please contact The
Vermillion Law Firm, LLC for a
consultation either online or by
calling us toll free at (888) 567-
5745.
44. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
LEARN MORE ABOUT
MEDICAID IN TEXAS
45. 7616 LBJ Freeway #120, Dallas, TX 75251Phone: (972) 386-4560
(972)386-4560
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