Is Medi-Cal Only For the Poor?

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IS MEDI-CAL ONLY FOR THE POOR?
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HEALTH INSURANCE SAFETY NET
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Medi-Cal is a health insurance program that is
jointly run by the federal government and the
California state government
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It is theoretically a safety net that is only
available to people with significant financial
need
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MEDICARE
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MEDICARE is a health insurance program for
seniors
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It is not need-based
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You earn coverage as you pay taxes over the years
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Most elders don't need Medi-Cal coverage at first
because they have Medicare
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LONG-TERM CARE
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The majority of Americans will eventually need
help with their day-to-day needs
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UNFORTUNATELY, Medicare does not pay for
long-term care
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A stay in a nursing home or assisted living
community is very expensive
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INHERITANCES LOST
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The average stay in a nursing home in Northern
California could cost around 200,000
16
Depending on the extent of your resources, you
could spend everything that you have saved paying
for long-term care
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There would be nothing left to leave to your
loved ones
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MEDI-CAL PAYS FOR LONG-TERM CARE
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Though Medicare will not pay for long-term care,
MEDI-CAL WILL ASSIST WITH THESE EXPENSES
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Many people who were never poor ultimately rely
on Medi-Cal to help with their long-term care
costs
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HOW CAN THIS BE?
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It is possible to position your assets with
future Medi-Cal eligibility in mind
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If you plan ahead effectively, you may be able
to qualify for the program while retaining a
maximum store of resources
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San Jose California Medi-Cal Planning
Consultation
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If you would like to discuss Medi-Cal planning
with an elder care specialist, contact our firm
to schedule a free consultation
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