What is Medicaid Planning?
Medicaid pays for 63% of America’s long term care expenses. Many people think that Medicaid is a health insurance program like Medicare, but it is not. When a senior uses Medicaid to pay his care bills, Medicaid counts and records every dollar spent on the Medicaid recipient.
Following the Medicaid recipient’s death, Medicare will place a lien on the recipient’s estate for every dollar that Medicaid spent during life, through a program called Medicaid Estate Recovery. Medicaid Estate Recovery can cause the family to lose the senior’s home and other valuable assets.
Medicaid planning allows a senior, who may need to use Medicaid for nursing home or other medical care expenses, to protect valuable assets, and to preserve more of the senior’s estate for the senior’s chosen beneficiaries.
Please click the link for details about “Saving the Senior’s Home from Medical Creditors.”