Elder Law Answers: Clarity on Medicare and Medicaid

1
CLARITY ON MEDICARE MEDICAID
ELDER LAW ANSWERS
2
GOVERNMENT HEALTH INSURANCE PROGRAMS
3
MEDICAID and MEDICARE are two different
government health insurance programs
4
These programs are both relevant to Senior
Citizens
5
MEDICAID
6
Medicaid is a jointly administered federal-state
health insurance program
7
There is no particular age requirement
8
People of all ages can qualify for Medicaid
9
This program is only available to People who can
demonstrate significant financial need
10
MEDICAID ELIGIBILITY REQUIREMENTS
11
Because of the fact that Medicaid is a need-based
program there are resource limits
12
If your countable assets exceed 2000 in value
you are not eligible for Medicaid
13
However, the value of your home (up to 802,000
in equity) does not count
14
Medicare
15
When you pay taxes as you are earning income
throughout your life you are paying into the
Medicare program
16
When you reach the age of 65 you become eligible
for Medicare coverage
17
This will provide you with health insurance
during your SENIOR YEARS
18
Gap in Medicare Coverage
19
You may think that Medicare will cover everything
when you become eligible
20
In fact, there is a very significant gap in the
coverage
21
Most Americans will need LONG-TERM CARE
EVENTUALLY
22
It is very expensive, and Medicare won't pay for
it
23
Medicaid to the Rescue
24
MEDICAID will assist with long-term care costs if
you can qualify
25
This is why it is relevant to senior citizens
26
In spite of the upper asset limits, most of the
senior citizens that reside in nursing homes are
covered by Medicaid
27
If you plan ahead effectively you can qualify for
Medicaid without losing everything
28
New York Medicaid Planning Consultation
29
Now that you have learned a bit about Medicare
and Medicaid you may want to discuss your future
with a licensed professional
30
Our firm would be glad to provide you with a
free Medicaid planning consultation
31
Davidov Law Group

• To request an appointment you can give us a call
  or contact us through our website

32
DavidovLaw.com
Click to visit our website