Advances in medicine and technology coupled with an above average standard of living make it very likely that the average American will spend several decades as a retiree. Nevertheless, the natural aging process catches up eventually and typically causes physical and/or mental decline. At some point, this deterioration may result in the need for a caregiver. The Grand Forks Medicaid planning attorneys at German Law Group explain how you may be able to pick your caregiver if you are covered by … [Read more...] about Can I Pick My Caregiver If I Am Covered by Medicaid?
As much as none of us want to admit it, the reality is that we all stand a good chance of needing long-term care at some point in our lives. If you fail to consider the possibility, you could face significant financial hurdles as a result should you end up in long-term care (LTC). Like many seniors, you may end up turning to Medicaid to help cover the high cost of LTC; however, qualifying for Medicaid might lead to Medicaid’s “spend-down” requirement if you failed to plan ahead. The Grand Forks … [Read more...] about Medicaid Spend-Down Explained
People often go through their entire working years without ever needing to rely on Medicaid to cover healthcare expenses, only to find that they must turn to Medicaid as a senior. If you are among them, you may mistakenly believe some of the myths and misconceptions about the program. To help clear those up, the Grand Forks Medicaid planning attorneys at German Law explain the top five Medicaid myths. Medicare will cover all my health care expenses. Once you reach retirement age you … [Read more...] about Top 5 Medicaid Myths
Creating a successful and comprehensive estate plan requires you to do much more than just decide how you wish to distribute your estate assets after you are gone. It also requires you to think ahead and guard the assets you acquire over the course of your lifetime so that there is something left to distribute at the end of your life. Considering the likelihood that you will need long-term care (LTC), and the high cost of that care, is essential to ensuring that you have assets left to pass down … [Read more...] about Top 5 Medicaid Planning Tips
You may make it to your retirement years without ever having the need to qualify for Medicaid if you were fortunate enough to be covered by employer-sponsored or privately purchased health insurance. As a senior, however, the likelihood that you will need to qualify for Medicaid increases substantially as a result of the high cost of long-term care. Consequently, it is wise to plan for the possibility by learning more about the Medicaid eligibility requirements. Among the most important of those … [Read more...] about Understanding the Medicaid Look-Back Rule
Like many people, you may have made it all the way to your “Golden Years” without ever needing to turn to Medicaid for help with healthcare related expenses only to find that qualifying for Medicaid as a senior is crucial because of the high cost of long-term care. If you did not plan ahead, however, you may find that the value of your assets actually prevents you from qualifying. At that point, can’t you simply transfer those excess assets to an adult child in order to meet the eligibility … [Read more...] about Can’t I Just Transfer My Assets to My Adult Child to Qualify for Medicaid?
For an adult child, one of the most difficult things to accept is that their father can no longer safely care for himself. If you find yourself facing that reality, you probably don’t like the idea of putting your father in a long-term care facility. At the same time, the harsh reality may be that you cannot financially afford to care for your father full-time if you have your own family to support. The Medicaid lawyers at German Law explain how a North Dakota Medicaid Waiver program may allow … [Read more...] about Will Medicaid Pay for Me to Care for My Father?
Ideally, most people should start including Medicaid planning tools and strategies in their estate plan once they reach middle age. Not everyone does though, which can put their assets at risk during their retirement years if they reach a point at which qualifying for Medicaid becomes crucial. If that does come to pass for you, do not despair. While it is certainly best to plan ahead for Medicaid eligibility, you may be able to use some last-minute Medicaid planning strategies to protect some of … [Read more...] about Last Minute Medicaid Planning Strategies
The American healthcare system has been through its share of changes over the past decade. Another round of changes has recently rolled through that may impact you, particularly if you are a senior. Changes to both Medicare and Medicaid will be felt by seniors across the country in the coming years, with some states implementing controversial changes to their Medicaid programs that bear watching by residents of all states as these changes could cause a chain reaction across the country. The … [Read more...] about How Will Recent Medicaid and Medicare Changes Affect You?
If you are like most people, you are planning to rely heavily on Medicare for your healthcare needs when you reach your retirement years. Fortunately, Medicare will cover most of your basic emergency healthcare expenses. If you choose to pay for additional coverage it will even pay for additional healthcare expenses such as doctor visits and prescription drugs. If you have heard people talk about the need for Medicaid planning, this may leave you wondering why you would need to qualify for … [Read more...] about Grand Forks Medicaid Lawyers Compare Medicaid and Medicare