Medicaid planning

mpang123

Is it still recommended that one should seek out Medicaid planning with elder law? Is funding for Medicaid in jeopardy? Is it risky to plan for Medicaid now?

sandwichone123

This is my opinion. Yes, it is in jeopardy, but we can only plan for what is, not what might be. It's hard to know what the future will bring, but we have to live our lives anyway, so do the best planning you can, knowing that things might change.

mpang123

I've been moving forward getting all the POA paperwork done for all her financial institutions. I'm trying to seek elder law for Medicaid planning, LTC, asset protection, estate planning, rights of ownership, transfer on death deeds, and set aside a trust for me to not affect my disability benefits. One elder law firm wants $10,000 to write up all the paperwork and that's not even guaranteed! I'm going to seek legal aide and/or get a second opinion. Whew!!! There's so much to do!!! I'm also providing morale support for my mom who is depressed about my Dad and the whole situation. I've been advised to just do what I can do one step at a time and try not to get overwhelmed.

H1235

I’m no expert that’s for sure. But maybe something to look into/ think about. Medicaid coverage is limited when it comes to assisted living and memory care. I’ve looked at several Al facilities that accept Medicaid and they were awful( I mean really bad). If your lo has the money to cover the cost of a nice facility for several years, do you need to worry about protecting the money. Would you put your lo is a lesser facility(so she can get Medicaid ) if she has the money (protected from Medicaid) for higher quality care. Every last bit of my mil’s money was spent on Al and Mc, but she was able to stay in a reasonably nice facility til the end.

mpang123

Dad is in a nice facility under hospice care. It is a newly renovated home with just 3 patients max. He has his private room with a nice TV to keep him company. The staff are wonderful. They empty his catheter bag, cook soft food and hand feed him, change his dressing from a compression wound in his back, crush his meds, change his diaper, turn and reposition him, top air mattress for better circulation, change his bedding, and basically everything for just $3500/month! I've been told my mom could also stay there with Dad in their own room with adjacent bathrooms and all things provided, services and care. Of course she has to pay her share but also at a discounted rate. But Mom is still very cognizant and intellectual and very mobile and active. She just has memory issues and confused thinking at times. She is too high functioning for Al right now but it's something to keep in mind should she needs to be paced also.