Spend Down Advising
In order to qualify for Medicaid, the patient (and spouse if applicable) will need to be at or below a certain asset limit. Elderly Consulting, LLC can advise clients exactly how many assets they can have and still qualify for Medicaid, how much needs to be spent down and good ways of spending it. Additionally, clients will receive information regarding how to protect their home from future Estate Recovery after they pass away.
Medicaid Application
The process of applying for Medicaid for nursing home residents involves knowing which assets are countable by the State of Michigan and which are not. When a patient has a spouse at home, it becomes a two step procedure which can make the process even more complex. Elderly Consulting, LLC will explain the entire process and show what verification is required by the State of Michigan.
Long Term Care Planning
After a lifetime of saving, most people want to be able to give their children an inheritance. However, nursing home expenses can use up much of that savings. Under current Medicaid laws, patients often need to spend much of their own money before Medicaid will pay for the nursing home expenses.
Elderly Consulting, LLC can show clients how to protect their assets in the event that they would eventually need to go into a nursing home. It is important to do this early since there is currently a 5 year “look back” on some transfers that clients would need to do in order to protect the assets.
Other Services
Elderly Consulting, LLC will also provide assistance in other related areas. For example, if a nursing home Medicaid application is denied, we can assist with the appeal process.
If nursing home Medicaid information is needed for states other than Michigan, Elderly Consulting, LLC can research the policies and procedures associated with those states.
Cost
The main services begin with an initial consultation which typically cost less than a hundred dollars per session. Additional fees apply if the client or family requests assistance filling out the application or obtaining the required verification for the application.
In order to qualify for Medicaid, the patient (and spouse if applicable) will need to be at or below a certain asset limit. Elderly Consulting, LLC can advise clients exactly how many assets they can have and still qualify for Medicaid, how much needs to be spent down and good ways of spending it. Additionally, clients will receive information regarding how to protect their home from future Estate Recovery after they pass away.
Medicaid Application
The process of applying for Medicaid for nursing home residents involves knowing which assets are countable by the State of Michigan and which are not. When a patient has a spouse at home, it becomes a two step procedure which can make the process even more complex. Elderly Consulting, LLC will explain the entire process and show what verification is required by the State of Michigan.
Long Term Care Planning
After a lifetime of saving, most people want to be able to give their children an inheritance. However, nursing home expenses can use up much of that savings. Under current Medicaid laws, patients often need to spend much of their own money before Medicaid will pay for the nursing home expenses.
Elderly Consulting, LLC can show clients how to protect their assets in the event that they would eventually need to go into a nursing home. It is important to do this early since there is currently a 5 year “look back” on some transfers that clients would need to do in order to protect the assets.
Other Services
Elderly Consulting, LLC will also provide assistance in other related areas. For example, if a nursing home Medicaid application is denied, we can assist with the appeal process.
If nursing home Medicaid information is needed for states other than Michigan, Elderly Consulting, LLC can research the policies and procedures associated with those states.
Cost
The main services begin with an initial consultation which typically cost less than a hundred dollars per session. Additional fees apply if the client or family requests assistance filling out the application or obtaining the required verification for the application.