One of the most challenging questions family members will find themselves asking as their loved one ages is whether or not to place that loved one in a nursing home. Every situation is unique, and there is no one-size-fits-all answer to this question. Instead, you must consider all of the factors and then decide if nursing home care is...
Continue ReadingThe latest budget changes in New York have created numerous changes to the state’s Medicaid program, but none are more impactful than those to home care services. The current system will make access to much-needed care limited and require you to jump through more hoops than previous systems to receive such care. If you are already receiving home care...
Continue ReadingYou might not need community-based care, and you may not even be close to retirement, but regardless of where you are in your life, now is the ideal time to start planning for Medicaid. For the past two months, we have gone over the significant changes to Medicaid’s lookback period – specifically involving those who need community-based care. Today,...
Continue ReadingBig changes to Medicaid could impact who qualifies for this form of government insurance, especially for those seeking community-based care. Last month we discussed the critical changes, and now this month, we focus on what you can do to qualify for Medicaid in 2020 and beyond. The biggest changes affect those seeking long-term care in the community. While you...
Continue ReadingNew York is barely reopening, and already those looking into Medicaid are going to find that the rules have changed rather significantly. At Andrew M. Lamkin, P.C., we want you to be prepared for these changes, understand how they impact you and your loved ones, and help you understand if you qualify. In this three-part series, we will go...
Continue ReadingMedicaid has strict qualification requirements, which means you need to plan ahead and protect yourself from losing out on this healthcare option. You can protect assets from Medicaid in a trust, but only if you select the right type of trust. What Is a Medicaid Trust and How Does It Protect Your Assets? A Medicaid trust is an irrevocable...
Continue ReadingMost seniors and their loved ones apply for Medicaid themselves rather than use an attorney. While you don’t need an attorney to file your application, doing so provides you and your loved ones with numerous benefits. One of the biggest reasons seniors do not use attorneys is not because they don’t need one, but because they are afraid of...
Continue ReadingAssets that can disqualify you from Medicaid include significant savings, investment accounts, additional properties besides your primary residence, expensive vehicles, and certain valuable personal property. Medicaid typically requires applicants to have limited financial resources, so substantial liquid assets or multiple real estate holdings may render you ineligible. Understanding which assets are countable and exempt can help you better plan...
Continue ReadingRetirement is around the corner. And while you have most of your retirement planning complete, the one area you put off is now knocking at the door. Medicare and Medicaid become staples for retirees in New York. Without them, you do not have coverage for prescriptions, medical costs, and even nursing care. Therefore, it is time to pull out...
Continue ReadingMedicaid is a government-funded program that takes many forms. Many New York residents are surprised to find out how many options they have for Medicaid coverage, including Nursing Home Medicaid. Nursing Home Medicaid is one of the more comprehensive Medicaid programs, and it comes equipped with all Medicaid services from Community Medicaid and Community Medicaid with Long-Term Care. Also,...
Continue ReadingNew York offers various homecare and nursing home care solutions for aging residents. To determine which type of services you qualify for, you need to assess your budget. Depending on your income, age group, and disability status, you may be eligible for individual types of Medicaid coverage offered by the state. Community Medicaid is one of those options. You...
Continue Reading