If you are concerned about long term care costs, you are not alone. According to the study Aging in Place in America, more people over the age of 65 are afraid of moving into a nursing home than are afraid of death. One of the problems with our fears is that so many of us choose to ignore them. Ignoring the possible need for nursing home care means that you miss out on the valuable chance to plan ahead. Not only does planning ahead let you shape what your nursing home experience might look … [Read more...] about A Primer on Medi-Cal Long Term Care Planning (Part 1 of 2)
Medi-Cal
Can Medi-Cal Go after My Estate after I Am Gone?
If you are a senior, you may have heard a few horror stories about qualifying for Medi-Cal and/or about the potential threat Medi-Cal could pose to your estate after you are gone. Because there are numerous myths and misconceptions about Medi-Cal eligibility, it is not wise to rely on the accuracy of those stories. Instead, you should learn the truth about Med-Cal eligibility requirements as well as how the Medi-Cal Estate Recovery Program (MERP) could impact your estate after your death. Toward … [Read more...] about Can Medi-Cal Go after My Estate after I Am Gone?
Confused about Medicare vs. Medi-Cal vs. Medicaid?
Many people are confused about the differences between Medicare and Medi-Cal. While these programs may sound similar, they are in fact two distinct and different programs. Medicare is an entitlement program that is funded by the federal government. It does not depend on one’s assets or income. Benefits are earned by virtue of payments made into this program over one’s working lifetime. When one retires from the workforce at age 65 or so, or earlier due to a disability, Medicare coverage … [Read more...] about Confused about Medicare vs. Medi-Cal vs. Medicaid?
The Use of Trusts In Medi-Cal Long-Term Care Planning (Part II)
Last month we discussed generally how trust planning can be very useful in Medi-Cal Long Term Care planning. This month we’ll focus on specific types of trusts that can be useful in planning relating to Medi-Cal Long Term Care. They are: Medi-Cal Gifting Trust: This irrevocable trust is used to preserve clients' assets while still letting them qualify for Long Term Care Medi-Cal. With this trust, the person who creates the trust and puts his or her assets in the trust can't access the … [Read more...] about The Use of Trusts In Medi-Cal Long-Term Care Planning (Part II)
What Assets Count for Medi-Cal Eligibility?
At some point during your retirement years, there is a chance that you may need to qualify for Medi-Cal to help cover the high cost of long-term care. It is for this reason that including Medi-Cal planning in your overall estate plan is commonly recommended to ensure that your assets are protected when you apply for Medi-Cal. Creating a successful Medi-Cal plan requires an understanding of which assets count for Medi-Cal eligibility and which assets are exempt. In this blog, we offer an overview … [Read more...] about What Assets Count for Medi-Cal Eligibility?
Do I Qualify for California Medi-Cal for Seniors?
Access to affordable healthcare has been a hot topic in the United States in recent years. Although we have some of the best medical care and practitioners throughout the world here in the U.S., we also have some of the highest costs. The high cost of healthcare is particularly problematic for seniors who are often living on a fixed income. For those who are eligible, California’s Medi-Cal program can help. How do you know if you qualify for Medi-Cal as a senior though? In this blog, the … [Read more...] about Do I Qualify for California Medi-Cal for Seniors?
Understanding the Medi-Cal Look-Back Period
Whether it was your estate planning attorney, or a well-meaning family member or friend, you have likely been told that including a Medi-Cal planning component in your estate plan is a good idea. The reason for this advice is that there is a good chance you may need to qualify for Medi-Cal (California’s version of the national Medicaid program) at some point in the future and if you failed to plan ahead you may not meet the eligibility guidelines. For example, if you run afoul of Medi-Cal’s … [Read more...] about Understanding the Medi-Cal Look-Back Period
Medi-Cal Lawyers Can Help You Plan for Long-Term Care
It’s no secret that long-term care can be quite expensive. Many private health insurance policies don't cover these long-term care services. For California residents who need long-term care, Medi-Cal may be an important source of funding. In fact, Medi-Cal covers the long-term care expenses of the majority of Californians who are residents in nursing homes. However, applying for and receiving assistance from Medi-Cal requires planning. Being prepared for the potential need for long-term health … [Read more...] about Medi-Cal Lawyers Can Help You Plan for Long-Term Care
What Do You Know about the Medi-Cal Process?
Because you are in good health right now does not mean you will never need long-term care in the future. This is a common misconception shared by many Sacramento area residents. You may not have health issues today, but you simply cannot predict how healthy you will be in 20 or 30 years. In fact, an unexpected injury could leave you with health issues that ultimately require long-term care, as well. According to some studies, more than two-thirds of those over the age of 65 need long-term … [Read more...] about What Do You Know about the Medi-Cal Process?
What Happens If I Don’t Need My Medi-Cal Trust?
We often recommend Medi-Cal planning as an important component of estate planning. They also suggest including a Medi-Cal trust as well because they help to protect your eligibility for Medi-Cal benefits. But one question many clients ask is what happens if you never actually need your Medi-Cal trust? Do you get your assets back? The answer is no and here is why. The benefits of Medi-Cal planning The purpose of Medi-Cal benefits is to assist low-income California residents in paying for … [Read more...] about What Happens If I Don’t Need My Medi-Cal Trust?
