Medicaid is the governmental program that dictates eligibility for receiving benefits, either in a nursing home, or at home. It is a means tested program and you have to meet different levels of criteria to qualify. Every individual state has a department that administers the program and every state has their own identification for Medicaid. Medicaid in Massachusetts is known as MassHealth.
Frequently Asked Questions
Medicare is simply health insurance coverage for people who are 65 and older who qualify. Medicare will only pay for a maximum of 100 days in a skilled nursing facility if you meet certain requirements. You must have moved to the nursing home within 30 days of a hospital discharge; and the hospital stay must be at least three days. Also, if you receive a skilled level of care, Medicare will pay completely for the first 20 days. For days 21 – 100, they will pay less a co-payment which is set each year. In most situations, people typically receive less than the full 100 days of benefits. After that point, you either have to pay privately with your own funds or obtain Medicaid eligibility.
This is not necessarily so. In many single situations (no spouse) the nursing home costs can drastically be reduced. In some instances, all assets (including income) can be protected. This is true in almost all spousal situations.
Yes. Our asset protection strategies are never hidden from the Medicaid worker. Every transaction must be detailed on the Medicaid application. We highlight the areas where we have used a legally sanctioned protection strategy to benefit our client. For every highlighted protection that has benefitted the client, we sight the legal rule or court case that justifies this protection. We use only strictly legal* and ethical protections of the law which are communicated to our clients and to the Medicaid worker in a transparent manner.
Absolutely not! Virtually every facility takes Medicaid. The irony is whether you are private paying or on Medicaid, your loved one will receive the same level of care.
No. The laws are highly favorable in spousal situations. The bottom line is that the at home spouse (with proper planning) can get to keep all or most of his or her assets, including the primary residence.
Many people apply for coverage without any help. But beware…! Medicaid will not tell you how to protect your assets. Generations Asset Preservation’s specialized knowledge, skill and experience will help you follow all the proper application procedures and handle all the necessary legal* and financial correspondence to your local Medicaid office. More importantly, we offer a range of options for protecting your assets, should you need nursing home care. We will see your case through to its conclusion and work hard to advocate for you and your family.
No. Medicaid treats any asset with your name on it as yours, unless you can clearly prove that the joint owner actually contributed assets to the account.
No. The general rule of law holds that whatever you can access, others may access as well. Assets in a Revocable Living Trust are open and available to you; therefore, they are also open and available to Medicaid. What would make your assets safe is an Irrevocable Trust. However, there are strict, so called “look-back” periods, which means your Trust has to be implemented and funded five years prior to applying for Medicaid benefits.
Our fees are quite reasonable and cost effective. In fact, we charge a flat fee that is much less than a one month’s stay in a nursing home. By helping you obtain Medicaid qualifications/benefits and protecting your personal assets, this plan can effectively cover that many times over.
This is essentially all we do. Through our legal affiliate, Legacy Legal Advisors, we have 20 plus years of experience dealing with MassHealth and the various programs and benefits that families are entitled to. Unless you do this on a full time basis, even qualified professionals such as attorneys, CPA’s, etc. do not have the experience and expertise and quite often are mistaken in their interpretation of the various rules and regulations.
Gone are the days that you can just give away your assets prior to obtaining Medicaid benefits. Medicaid has put into place a so-called “look-back” period, which is now five (5) years. This means that if you have given assets away less than five (5) years ago, those assets will not be free and clear until five (5) years have passed. Therefore, you will not qualify for Medicaid benefits until five (5) years have passed.