Medicaid Planning

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Medicaid Planning
Why You Should Include It in Your Estate Plan
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The Reality of Growing Older
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Who Pays for Long-Term Care?
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Most private healthcare plans do not cover
long-term care costs
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Medicare only covers long-term care under very
specific circumstances and then only for a
maximum of 120 days
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Medicaid does cover long-term care
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Why Medicaid Planning Is Essential
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MEDICARE is an entitlement program, meaning you
do not need to qualify
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MEDICAID requires you to meet eligibility
requirements to qualify for benefits
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Oregon Medicaid program has income and asset
limits
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Income limits may not be a problem but the asset
limit often is for older applicants
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Asset limit for an individual applying based on
age or disability is 2,000
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If your assets exceed the limit you must
spend-down your assets
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A lifetime of savings can be diminished in a
short period of time
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Medicaid has a five year look-back period which
effectively prevents asset transfers within the
five years prior to applying for benefits
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MEDICAID PLANNING
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Including a Medicaid plan in your estate plan
ensures eligibility for Medicaid should you need
benefits in the future
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Numerous legal tools and strategies are
available to include in your Medicaid plan
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If you failed to plan ahead, there may be last
minute options that can help to some extent such
as converting countable assets into exempt assets
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Learn More About Medicaid Planning in Portland
Oregon
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Learn More About Medicaid Planning in Portland
Oregon