Mistakes That Happen When Thinking About Medicaid Planning

Medicaid Planning

As a senior, it is so easy to forget that you need to sit down and talk to someone about Medicaid planning. Believe it or not, for most people, Medicaid planning is not an easy task to do alone. It is a super complex issue that can be hard for most seniors to understand. Having a lawyer or someone who understands the law is going to be crucial when applying for Medicaid. A good lawyer will help a senior figure out the ins and outs of Medicaid planning and will ease a lot of the stress and burden a senior may feel.

Understanding What Medicaid Is

When you hear the term Medicaid you need to know that it is the name of the United States public health insurance for people with lower income. It is the principal source for long-term care and you will usually hear the terms when talking about nursing homes or other types of help for seniors. Although most people associate this type of health insurance with seniors, it can be for anyone who has a lower income. Medicaid has helped our country stay healthier than ever before, especially seniors. So, although it is hard to navigate the process of applying for Medicaid, it is absolutely worth it for seniors who want to stay healthy. Below are some common mistakes that happen when trying to apply for Medicaid and how you can avoid them.

Procrastination is a HUGE Mistake

Like everyone else, a senior can procrastinate. However, when a senior is thinking about Medicaid and knows they are going to need it sooner rather than later, this should never be something that is out of place. In fact, it can take time to find the right lawyer to help you navigate the challenges of applying for Medicaid. The sooner a senior sits down to apply, the more likely they are to get the help they need sooner. It is crucial to encourage seniors to sit down and start the process of applying for Medicaid.

Seniors Don’t Have Asset Protection

You may know that asset protection is important, but one of the reasons why it is so crucial to set up is because it could impact your application. You may need to sell off all of your assets if they are not protected. You may not qualify for Medicaid if you do not have asset protection. Before you and a lawyer start applying for Medicaid they will ask you about assets and they will help you develop a plan that will ensure everything you have worked hard for is safe. They will be able to ensure you are most likely accepted for Medicaid. This is also another reason why procrastination is a huge problem, the longer a senior waits to do any of this, the more challenging it will be in the future.

They Aren’t Looking for Help

There are specialized lawyers that will help a senior navigate asset protection and Medicaid planning. If your loved one is procrastinating because they do not understand the process, it means they need more help. Not everyone understands what you need to do and that is why you need to look for a professional who knows about asset protection, Medicaid, and elder law.

If you or a loved one need assistance with Medicaid Planning in Homewood, AL, contact The Alabama Elder Care Law Firm, LLC today at (205) 390-0101