Medicaid is a federal program that provides healthcare coverage to individuals and low-income families. Program costs are typically covered by a combination of federal and state funding. Services are provided to those with limited financial means so that they can obtain the medical care they need with limited out-of-pocket costs.

Medicaid also provides coverage to disabled people in some situations, and can assist the elderly with paying Medicare premiums. Simply put, people apply for Medicaid to obtain coverage for the cost of long-term care that they would not otherwise be able to afford.

Before submitting an application for Medicaid, many people go through a process known as Medicaid planning. Medicaid planning involves assessing a potential applicant's ability to receive Medicaid; taking steps to improve their chances of receiving it; and working to preserve assets that may otherwise become part of Medicaid's estate recovery program.

Because the Medicaid application process can be confusing, getting assistance from someone who understands how it works can prove very beneficial in the long run.

Medicaid planning benefits people who really need the services provided, but fear they may not qualify. If you do not have the financial resources to sustain out-of-pocket costs for long-term care, or family members who are able to care for you when it becomes hard for you to care for yourself, you should speak to an attorney about Medicaid planning. 

Medicaid planning exists to provide medical coverage to those who need it most. Following are some of the main qualifications that must be met to be eligible for Medicaid:

Income-Based Eligibility

Income is one of the primary factors considered in a Medicaid eligibility determination. For most children, pregnant women, parents, and adults, their income must be below a certain threshold. This amount is calculated using taxable income and tax filing relationships. 

There are cases where people who wish to qualify for Medicaid give their possessions to their children or other family members so that they may qualify for benefits. There are rules established to prevent this from happening, and it may not be in your best interest to give away your property. 

Non-Income Based Eligibility

There are ways to qualify for Medicaid even if you are unable to qualify under the income requirements. Blindness, disability, or age (over the age of 65) are other ways to qualify. Veterans may also qualify for Medicaid benefits.

Coverage Services Provided by Medicaid

Federal law mandates that certain services be covered by Medicaid, while other services are decided by each state. Typically, Medicaid covers the following:

• Inpatient and Outpatient Hospital Visits

• Home Health Services

• Physician Services

• X-Ray Services

• Laboratory Services

You will need to check with your state to determine what other services may be covered. 

If you or a loved one is in need of long-term care, but you have concerns about qualifying for Medicaid, consult with a Medicaid attorney. They will know what the threshold income amount is for qualification; and, if your income exceeds that amount, they will be able to formulate a plan with you to help you become qualified. One of the ways to accomplish the latter is through estate planning, such as shielding your assets so as to make them exempt from consideration when your financial situation is assessed for Medicaid eligibility. 

At Janssen Estate Probate & Elder law, we understand the importance of achieving Medicaid eligibility for seniors in need of long-term care. Unfortunately, so many people learn about estate planning for Medicaid when it is too late. Start early to avoid future eligibility problems by scheduling a consultation today.