Personal care is expensive, whether at home, in assisted living or in a nursing home. In Massachusetts, nursing home costs can exceed $100,000 a year. Providing the same level of care at home or in assisted living can be even more expensive.

These costs, for the most part, are not covered by Medicare. Although such costs may be covered by long-term care insurance, few of today’s seniors have such insurance either because they lacked the foresight to purchase a policy, are uninsurable or cannot afford it.   That means that they must rely on their hard earned savings to cover the cost of care.

Few seniors can afford to pay the high costs of long-term care for very long. And doing so can leave a healthy spouse destitute and deplete the inheritance they have worked long and hard to leave to their family.

The Medicaid program pays for nursing home care for those who qualify.  In order to qualify, however, an applicant is required to exhaust his or her income and assets.  After that, Medicaid still doesn’t provide comprehensive coverage.   Medicaid planning is, first and foremost, the process of assuring that you or your loved one receives the best possible care should you or they require nursing home or long term care. Secondly, it is the process of positioning your income and assets so that you can qualify for Medicaid, while preserving as many resources as possible to supplement Medicaid, provide security for your healthy spouse, or preserve a legacy for your children.  

Medicaid rules are complicated and ever-changing. The application process can also be daunting. The Law Office of Stephanie Konarski can help guide you through this process, help protect your hard-earned savings from long-term care costs, help you receive the benefits and care to which you are entitled and help protect your spouse and your family’s financial stability. We help clients in good health or who have just been diagnosed with an illness plan in advance as well as families of seniors who are unexpectedly hospitalized or in a nursing home.  We stay up-to-date with the evolving Medicaid rules and laws to provide you with accurate advice and service you can rely on.

It is never too late to plan.  To discuss your Medicaid planning issues or for assistance fashioning a Medicaid plan to fit your circumstances and protect your family in the event you or your spouse requires expensive nursing home care, please contact us to schedule a confidential consultation.

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