Medicaid planning should be a key part of any long-term elder care strategy, particularly because there are strict income and asset limits a person has to meet to qualify. It is crucial that you speak with a qualified New Jersey Senior Care planning attorney that specializes in Medicaid to help you devise a smart and comprehensive strategy for making long-term care more affordable.
As life expectancies and long term care costs continue to rise, the challenge quickly becomes how to pay for these services. Many people cannot afford to pay the cost, and those who can pay for a while may find their life savings wiped out in a matter of months, rather than years. Fortunately, our New Jersey Elder Law attorneys specialize in assisting seniors and their families deal with the Medicaid process.
It’s important to understand the difference between Medicare and Medicaid. Medicare is a system of health care for citizens over 65 (or disabled). Medicare is available to anyone who has worked. However, Medicare is limited — it’s only a limited health care service. Medicare doesn’t pay for chronic illness; only for hospital stays. Additionally, Medicare doesn’t pay for long-term home care services or skilled nursing facilities, very expensive costs that can deplete a bank account.
The best way to plan for the shortcomings of Medicare is by correctly applying for Medicaid. However, the Medicaid application is an exhaustive process and must conform within the regulations of New Jersey. Our Elder Law attorneys have years of experience assisting clients in successfully applying for Medicaid. We assist families with choosing the proper Managed Long Term Care provider (MLTC), and/or nursing homes of their choice. Medicaid recipients receive comprehensive health insurance, hospital care, doctors and long term care, such as, home care services or nursing home care.