Tag: senior healthcare planning

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Medicaid

Can I Transfer My Assets To My Kids And Still Get On Medicaid?

Can I Transfer My Assets To My Kids And Still Get On Medicaid?

Getting on Medicaid can be a great resource for individuals with limited income and assets who need help paying for their medical expenses. However, it’s important to understand the asset limit requirements and the potential consequences of gifting assets before applying for Medicaid.

Medicaid requires individuals to have below a certain number of assets before they can qualify for the program. This can be challenging for some people, especially if they have assets that they wish to pass on to their loved ones. While giving assets away can seem like a good solution, Medicaid has strict guidelines about gift giving, and frowns upon this practice.

Medicaid argues that if you have the available means to pay for medical expenses out of pocket, you should do so before relying on the state to care for you. This makes sense, as Medicaid is meant to help those who are in financial need. If individuals are giving away their assets instead of using them to pay for medical care, it compromises the integrity of the program.

This is why it is crucial to discuss asset protection strategies with qualified Medicaid planning professionals before giving away assets. There are several ways to make gifts in a Medicaid-compliant way, so you can preserve your assets while still qualifying for the program. It’s important to know your options and explore all possibilities before making any decisions.

At Utah Senior Planning, we understand the desire to leave a legacy for your loved ones. That’s why we are dedicated to helping individuals who wish to preserve their assets through Medicaid planning strategies. With our well-thought-out plans and strategies, we enable our clients to achieve success and still qualify for Medicaid. 

If you are considering gifting assets or need help with Medicaid planning, don’t hesitate to contact us. We’re here to help you navigate the process and find the best solution for your specific situation.

 
Categories
Placement Services

Navigating the Path to Nursing Facility Admission: Your Comprehensive Guide

How do I get admitted into a nursing facility?

Every journey has its starting point, and for those seeking admission into a nursing facility, understanding the process is the first step toward ensuring the best care for yourself or your loved one. Whether you’re on the road to recovery after an accident or in need of ongoing care due to a chronic condition, the process of getting admitted into a nursing facility can seem like a complex maze. In this guide, we break down the typical steps involved, offering clarity and insights to make your journey smoother.

Typically, to get admitted into a nursing facility, you will follow these general steps: 

Hospital Stay or Doctor's Recommendation

Admittance to a nursing facility often begins with a hospital stay or a doctor’s recommendation. If you have experienced an accident or illness that requires rehabilitation or long-term care, a doctor may request your admission to a nursing facility. 

Consult with a Doctor

If you believe that you require care in a nursing facility, you can discuss your situation with your primary care doctor. They can assess your medical needs and determine if a nursing facility is appropriate for your recovery or ongoing care. 

Contact Nursing Facilities

Once it is determined that you need nursing facility care, you or your family can reach out to nursing facilities in your area. It is advisable to contact multiple facilities to inquire about availability, services offered, and admission criteria.

Provide Medical Information

The facility’s marketer or admissions coordinator will request medical information, history, and any necessary documentation to evaluate your eligibility and medical needs. This may include medical records, medical history, doctor’s notes, and insurance information.

Medical Acceptance

The nursing facility will review your medical information and assess whether they can provide the appropriate level of care you require. If they determine that they can meet your needs, you will be medically accepted for admission.

Financial Assessment

After medical acceptance, you will need to go through a financial process to determine the appropriate payer source for your care. This may involve providing financial information, insurance details, or discussing payment options.

Private Pay and Medicaid

If you have sufficient financial resources, you may choose to pay for the nursing facility care out of pocket. This is referred to as private pay. However, it is important to consider that the private pay rate of the facility can be quite expensive and overtime can deplete your assets. Instead of paying that out of pocket it may be worth it to speak with a Medicaid planner in order to ensure you are not having to pay more than you need and can protect your assets rather than letting them deplete overtime. If you meet the eligibility criteria, you may qualify for Medicaid, which can cover the costs of long-term care in a nursing facility. Utah Senior Planning, the building’s business offices, and the facility’s financial department can guide you through the Medicaid application process if needed. 

In the realm of health and care, each decision we make is an investment in our well-being and the well-being of our loved ones. Navigating the path to nursing facility admission is a significant step, one that can influence the quality of life and the level of care you or your family member receives.

At Utah Senior Planning, we’re committed to helping you navigate this journey with confidence. From the initial doctor’s recommendation to the final financial assessment, our experienced team is here to provide guidance, support, and expertise. We understand that each individual’s situation is unique, and we’re dedicated to tailoring solutions that cater to your needs and circumstances.

Whether it’s ensuring you have the right medical information ready, offering insights into Medicaid planning, or helping you find a nursing facility that aligns with your preferences, our goal is to make this process as seamless as possible. Your well-being is our priority, and we’re here to ensure that you or your loved one can access the care and comfort you deserve.

Feel free to reach out to us for any questions or assistance you may need on your journey toward nursing facility admission. Your path to compassionate care starts here.