Providing Elder Law & Medi-Cal Solutions Throughout Orange County
While the golden years are supposed to be filled with the joys of retirement, grandchildren and travel, they are seldom enjoyed without various other complexities that individuals encounter as they age including deteriorating health, financial concerns, and family disputes. To meet these challenges, a unique area of law – elder law has taken on greater value to millions of aging Americans and their caregivers. This area encompasses many different legal disciplines, including estate planning, business succession planning, asset protection, Medicaid planning and veterans benefits.
Our attorneys are knowledgeable on the wide array of issues that impact the elderly and can assist you or your loved ones with the following matters:
- Healthcare planning, including powers of attorneys and living wills (advanced healthcare directives)
- Estate planning
- Long-term care planning
- Selecting the right long-term care facility
- Qualifying for public benefits such as Social Security, Medicaid and Veterans Benefits
- Conservatorships and guardianships
- Prevention of financial exploitation and elder abuse
While we communicate with caregivers, including spouses, children, doctors, social workers and home aides, our central focus remains our elderly clients. We work diligently to make sure the seniors we represent are protected and continue to enjoy a high quality of life as they age.
The high cost of long-term care has made planning a critically important issue for most middle class seniors and their families. In fact, most seniors will likely require some form of long-term care. Sadly, many of them are unprepared for the significant financial burdens it places on their family’s hard earned savings. Financial devastation looms large for a family facing ongoing care at a rate of $10,000 or more per month.
Long-Term Care Options
While some seniors are able to afford private pay care, the cost of long-term care will wipe out savings of all but the wealthiest families in a matter of years. Those who have planned ahead by purchasing long-term care insurance have a degree of certainty and peace of mind, knowing that they have a lesser need to rely on other sources in the future. Unfortunately, many can’t afford the high cost of long term care insurance or worse, because of age or medical condition, cannot qualify for long term care insurance altogether. If you do have long-term care insurance, you should be aware of what your policy covers. Many policies have high deductibles or provide for only a short period of care in the facility. In fact, many who have long-term care insurance still have to resort to Medicaid to pay for their care.
The other option to pay for care is Medi-Cal. A joint federal-state program, Medicaid provides medical assistance to low-income individuals, including those who are 65 or older, disabled or blind. Medicaid is the single largest payer of nursing home bills in America and serves as the option of last resort for people who have no other way to finance their long-term care. Although Medicaid eligibility rules vary from state to state, federal minimum standards and guidelines must be observed.
While Medicaid eligibility with respect to long-term care was not difficult in the past, there has been a steady drift towards more complex and restrictive rules, the latest being the Deficit Reduction Act of 2005 which went into effect in 2006. These changes have resulted in complex eligibility requirements for those in need of Medicaid benefits. It’s no longer as easy as reviewing one’s bank statements. There are a myriad of regulations involving look-back periods, income caps, transfer penalties, and waiting periods to plan around.
Our law firm has the experience and the expertise to help avoid the financial ruin associated with the high cost of long-term care. Click here to learn more.
Contact us today to start the process of understanding the issues surrounding Medicaid eligibility and to implement the planning and application process.