If you are concerned about the future of an elderly loved one, you are not alone. As we watch our elderly loved ones age, we can’t help but be concerned about the care they will need and how to finance it. Health care in America is among the most costly in the world, with costs continuing to rise. As a result, the average American is unable to pay for a lengthy stay in a long-term care facility or for the costs of a serious, long-term illness. While we all hope that our elderly loved ones are able to avoid the need for long-term care, and remain relatively healthy well into old age, there is always a chance that this will not be the case. For those who do need long-term care, and/or are faced with the costs of treating a serious medical condition, the Medi-Cal program may be the solution; however, getting approved for Medi-Cal can be complicated.
The Medi-Cal program can be a lifeline for those faced with mounting medical bills. It may pay for long-term care, as well as treatment for a long-term serious medical condition, if your elderly loved one qualifies. Many factors go into determining if an applicant qualifies for Medi-Cal, including the assets and income of the applicant. This is where it gets complicated. If your loved one owns certain real estate, has a retirement account, or monthly income, he or she could be disqualified because the assets exceed the program limits. Without proper planning, your loved one could be forced to spend his or her life savings before Medi-Cal will approve the application.
The good news is that by consulting with an experienced and qualified elder care attorney you may be able to develop a plan that will both shield your elderly loved one’s life savings and allow him or her to qualify for much needed assistance from the Medicaid program.