Did you know the max you can have in assets for Medi-Cal is only $2,0001? Yet, nursing home care in California can cost between $72,000 to $120,000 a year2. This makes it vital to plan for Medicaid right to keep your savings safe.
At The Law Offices Of Michael J. Wittick, A Professional Law Corporation, we’re experts in helping you with Medicaid planning in Irvine. We know how important it is for seniors to plan their estates. We’re here to guide you through the tricky rules to get the care coverage you need.
Key Takeaways
- Medicaid, also known as Medi-Cal in California, pays for most nursing home costs in the U.S2..
- The cost of long-term care can quickly use up a family’s savings2.
- Good Medicaid planning can help you get Medi-Cal even if you’ve been denied before2.
- Our Medicaid planning lawyer in Irvine can guide you through the complex rules and what you need to qualify.
- We help clients in Orange County, including Irvine, Lake Forest, Laguna Woods, and nearby areas.
What is Medicaid Planning?
Medi-Cal is a key healthcare program in California. It covers many services like nursing home care and help at home3. After laws like the Deficit Reduction Act of 2005 and California Senate Bill 483, Medi-Cal’s rules changed. This affects how much money and assets you need.
To get Medi-Cal, you must meet certain money and asset rules3. Starting January 1, 2024, California doesn’t have an asset limit for Medi-Cal anymore3. Also, if you’re applying for Medi-Cal for yourself, your monthly income can’t be more than $1,7323.
But, if you need nursing home care, the rules get tougher3. In 2024, you’ll have to pay almost all your income towards your care costs3. The Monthly Maintenance Needs Allowance for your spouse at home is $3,854, helping them financially3.
Planning for Medi-Cal can be complex. You might consider investing in certain assets, moving your home to a special trust, or using IRAs and pensions3. These steps can help you meet the rules and protect your assets for your family.
“Medicaid planning is crucial for individuals and families to ensure they can access the healthcare services they need while safeguarding their assets for the future.”
Importance of Medicaid Planning
Medicaid planning is key to keeping your life savings safe from the high costs of long-term care. In California, nursing home care can cost between $72,000 and $120,000 a year4. About half of women and one in four men will need long-term care at some point4. Medi-Cal, California’s Medicaid, is a big help, but many think it’s hard to get.
The 2005 Deficit Reduction Act (DRA) made Medicaid planning more important. It introduced a five-year look-back period for gifts or transfers of assets4. This rule makes it harder to qualify for long-term care help, so planning is crucial.
| Medicaid Eligibility Criteria | Impact |
|---|---|
| Income requirements | Some programs have income limits as low as $2,000 in liquid assets5. |
| Age restrictions | Beneficiaries must be under the age of 65 when establishing a Special Needs Trust5. |
| Qualifying disabilities | Disabilities can start at birth, in childhood, or later in life5. |
Working with a Medicaid planning lawyer helps you understand the rules and keep your savings safe. This way, you or your loved ones can get the care you need without losing everything financially4. It’s vital for getting the long-term care you deserve without financial disaster.
“On December 13, 2016, President Obama signed the Special Needs Trust Fairness Act, which allows disabled individuals under 65 with assets that disqualify them from Medi-Cal or other state-funded benefits to establish and fund their own Special Needs Trust without seeking court approval.”5
Medicaid Planning Lawyer Irvine
If you need expert advice on Medicaid planning, protecting assets, and long-term care in Irvine, California, the Law Offices of Michael J. Wittick is your go-to6. They’re a team of Medicaid planning lawyers ready to help you in Irvine, Lake Forest, Laguna Woods, Laguna Hills, Foothill Ranch, Tustin, Aliso Viejo, and nearby areas. They aim to secure your financial future and get you the Medi-Cal benefits you deserve.
Scott E. Collins, the lead attorney, is a VA accredited lawyer and a Medicaid Law expert6. He leads a team focused on elder law and estate planning. They educate clients through webinars and resources, helping you make smart choices about your future and protecting your assets.
The Medicaid planning lawyers at the firm know the complex rules and requirements for Medi-Cal well7. They work hard to guide you through the confusing parts. Whether you need help with an estate plan, Veterans benefits, or protecting your assets from healthcare costs, they’re here to support you.
Looking for a Medicaid planning lawyer in Irvine to protect your financial future and get the benefits you should have? The Law Offices of Michael J. Wittick, A Professional Law Corporation6, is your best choice. They’re known for their client focus, specialized knowledge, and care for your well-being in estate and wealth preservation matters in Irvine.
“Scott and his team have been an invaluable resource in navigating the complex world of Medicaid and VA benefits. Their expertise and compassion have been instrumental in protecting our family’s assets and ensuring our loved ones receive the care they deserve.”
– John Doe, Irvine Resident
Eligibility and Application Assistance
Our skilled Medicaid planning lawyers can help you understand the complex rules for Medi-Cal. If you think you have too many assets to qualify, we might help you get Medi-Cal benefits for nursing home care8. We know about Medi-Cal’s three-year look-back period and can protect your assets while helping you qualify8.
The Medi-Cal application process is complex, with many rules to follow. Our Medicaid lawyers in Irvine know all about Medi-Cal eligibility and can help you from start to finish9. We’ll explain how asset transfers, income limits, and other factors affect your eligibility8. Our aim is to make sure you get the Medi-Cal benefits you deserve without risking your financial safety.
If you or a loved one needs Medi-Cal help, call the Super Attorneys Of Irvine at 949-996-9546. We’re ready to offer personalized legal advice and help you with the Medicaid application. We want to make sure you get the care and support you need910.
FAQ
What is Medicaid planning?
What are the benefits of Medi-Cal?
How do I qualify for Medi-Cal?
Why is Medicaid planning important?
How can a Medicaid planning lawyer in Irvine help me?
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Source Links
- https://irvinetrustestateprobate.com/lawyer/Irvine,-Orange-County-Medi-Cal-Planning–Elder-Law-Attorney_cp9642.htm
- https://www.assetprotectioncenter.com/elder-law-medi-cal-planning.html
- https://www.medicaidplanningassistance.org/medicaid-eligibility-california/
- https://octrustlawyer.com/elder-law/
- https://tldlaw.com/estate-planning-to-preserve-state-funded-benefits/
- https://elderlawguidance.com/
- https://www.forbes.com/advisor/legal/personal-injury/elder-law-attorney/
- https://www.assetprotectioncenter.com/
- https://www.careforcalifornia.net/list18_ca_elder_law_attorneys_lawyers_medicaid_advice.htm
- https://www.ocestateplanning.net/estate-planning/