Many people are not aware of the opportunity they have to gain eligibility for Medicaid benefits, which include a variety of health care programs and services, and most significantly, long-term care at home or in a nursing home. Medicaid planning involves taking the steps needed to protect your assets and income, and, at the same time, to become eligible for benefits.

Yet so many people never bother, because they think “I have too much money and too much income to be eligible,” or they believe that Medicaid’s five-year “look back” will get them in trouble if they transfer their assets.

These are common misconceptions. Most people can become Medicaid eligible and receive benefits, by implementing appropriate and completely reliable strategies that are consistent with Federal and New York State laws.

For more information about Medicaid benefits, click on the following links

For information about how you can obtain these benefits, click on Your Situation

The most common misconception we observe, and the biggest reason people believe they cannot access Medicaid benefits, regards the five year “look back” period.  The “look back” is not an obstacle in New York if you are applying for home care or other services in the community – click on Community Medicaid for a full explanation.  Even if you need nursing home care — where the “look back” does apply — and have not planned ahead, there are usually strategies that can enable you to preserve a good portion of your assets.  Click on Medicaid Nursing Home Care for more details.

When you are over 65 or disabled, the government has two health care plans.  Medicare is health insurance for seniors and the disabled.  It pays expenses related to short-term illness or injury, acute care and rehabilitation. However, it does not pay for long term care.

Medicaid is also health insurance.  In addition, it provides benefits for those needing long-term care who are permanently ill, injured or disabled, and who qualify financially under the Medicaid rules.  It is the only source of payment for long-term care, other than your own funds or long-term care insurance.  Medicaid is a federal, state, and locally funded program, and the rules regarding eligibility and implementation vary widely from state to state.

If you need long-term care, and have not planned ahead, you may be shocked by how quickly the exorbitant cost of health care services will drain your life’s savings. Many people are not aware that there are proven, reliable strategies that can protect all or a good portion of their savings while still enabling them to obtain government coverage for their health care. Taking advantage of these strategies can mean that your money can still be used to maintain your lifestyle, that you can remain in your own home as long as it is safe to do so, and that you can live out your final years in comfort and dignity.