As people age, many become concerned about healthcare. If they become subject to a diminished mental or physical capability, how can they afford assisted care? How can they avoid exposing their spouse to financial hardship because of their own debilitation? Medi-Cal eligibility planning may provide you with some solutions for this concern.
You can discuss Medi-Cal long-term care alternatives with your estate planning attorney in addition to working out a plan to qualify for Medi-Cal. To qualify for Medi-Cal, your income and assets must meet certain limitations. Reducing long-term care expenses, establishing trusts, spending down assets, and other estate planning instruments may help you qualify for Medi-Cal services. Some of the long-term care services Medi-Cal offers include:
- Assisted living waiver. The waiver provides assisted living, care coordination, nursing facility-type care and other benefits to those residing in Residential Care Facilities for the Elderly and in publicly subsidized housing.
- In-home operations. These are home- and community-based programs that offer case management, private duty nursing, family training and home health aides services for those who require nursing facility or acute hospital care levels.
- Partnership for long-term care. The partnership helps Californians plan for future long-term care and use private insurance to fund the care. The State of California Department of Health Care Services works in cooperation with a select number of private insurance companies to offer high quality policies which offer Medi-Cal Asset Protection.
You do not have to wait until a healthcare crisis is at your doorstep. It is best to start Medi-Cal eligibility planning ahead of time.
Temmerman, Cilley & Kohlmann, LLP provides excellent estate planning services and can help you make choices appropriate for your situation.