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Is Medicaid Strictly For the Poor

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Medicaid is a need-based program. It is intended to provide a health care safety net for very low income people. Learn more about medicaid in this presentation.

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Is Medicaid Strictly For the Poor

  1. 1. Government Health Insurance AW FIRM OF MA S. EGHRARI & ASSOCIATES PLLC Elder Law and Estate Planning
  2. 2. The Medicaid program provides health insurance L. I“II<. I I11- MARK S. EGHRARI & Assm | vlIs l’Il('
  3. 3. It is administered by the federal government along with each state government L. I“11<. I (ll MARK S. EGHRARI 8; / I)( I ll. | ’ll(
  4. 4. Need-Based Program LAW FIRM OF MARK S. EGHRARI & ASSOCIATES PLLC Elder Law and Estate Planning
  5. 5. MEDICAID is a need-based program L1 I~'IR. I ()1- MARK S. EGHRARI & ASS(>(‘| vl 1 5 H l c‘ Elder Law and Estate Planning
  6. 6. It is intended to provide a health care safety net for very low income people L. I“IR. I ()1- MARK S. EGHRARI & Axs‘I>( I. I1s l’ll('
  7. 7. To qualify, you must be able to prove that you have significant financial need L. I“IR. I ()1- MARK S. EGHRARI & Axs‘I>( I. I1s l’ll('
  8. 8. 1. 1 ~ ‘ 11;‘: l ~ ‘ I / y
  9. 9. Many senior citizens will require long-term care eventually L. I“IR. I ()1- MARK S. EGHRARI & Axs‘I>( I. I1s l’ll('
  10. 10. Medicaid will pay for long-term care, but Medicare will not cover these expenses L. I“1R. I (ll MARK S. EGHRARI 8; / I)( I ll. | ’ll(
  11. 11. Assisted Living Costs LAW FIRM OF MARK S. EGHRARI & ASSOCIATES PLLC Elder Law and Estate Planning
  12. 12. Long-term care is extremely expensive, even for people who were never poor L. I“1R. I (ll MARK S. EGHRARI 8; / I)( I ll. | ’ll(
  13. 13. We practice law in New York L. l"IR. I ()1- MARK S. EGHRARI & Ass(>(‘I. I1sI>II, <‘ Elder Law and Estate Planning
  14. 14. The average annual cost for a room in a nursing home in New York is over $100,000 L. I“IR. I ()1- MARK S. EGHRARI & Axs‘I>( I. I1s l’ll('
  15. 15. People who retired with some resources often take steps to qualify for Medicaid L. I“1R. I (ll MARK S. EGHRARI 8; tI)( I ll. | ’ll(
  16. 16. To qualify, you could essentially give your children their inheritances in advance L. I“1R. I (ll MARK S. EGHRARI 8; tI)( I ll. | ’ll(
  17. 17. You would then have very little left in your own name L. I“IR. I (ll MARK S. EGHRARI & Assm | vlls l’Il('
  18. 18. Five-Year Look-Back LAW FIRM OF MARK S. EGHRARI & ASSOCIATES PLLC Elder Law and Estate Planning
  19. 19. Medicaid planning is tricky, because there is a five-year look-back L. I“IR. I ()1- MARK S. EGHRARI & Axs‘I>( I. I1s l’ll('
  20. 20. Your eligibility is delayed if you give away assets within five years of applying for Medicaid coverage L. I“1R. I (ll MARK S. EGHRARI 8; tI)( I ll. | ’ll(
  21. 21. With careful and informed planning, you could potentially qualify at the ideal time L. I“1R. I ()l MARK S. EGHRARI 8; tI)( I ll. | ’ll(
  22. 22. Free Medicaid Planning Consultation LAW FIRM OF MARK S. EGHRARI & A sssssssssss LC Elder Law and Estate Planning
  23. 23. Long-term care cosb l can have a huge impact on your financial legacy. Contact us to schwule a free consultation if you would like to discuss Medicaid planning with a licensed elder law attomey?
  24. 24. Click to visit myestatep| an. com / .. MARK 'S. F.“(; ,HRARl Contact Information 50 Karl Avenue, Suite 202 Smithtown, NY 11787 (631) 265-0599 Website www. myestatep| an. com

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