Medicaid planning and long-term care planning are a critical part of planning for an uncertain future. Nobody wants to have to spend time in a nursing home or to place a loved one in a long-term care facility. Unfortunately, the reality is that 70% of adults aged 65 and older will require long-term care at some point. The average length of a nursing home stay is a little over three years, but 20% of people in a long-term care facility will be there for over five years.

If you have ever had a loved one in a nursing home, you know that long-term care is expensive. In New Hampshire, the average monthly cost of a private room in a skilled nursing facility is $12,000. Few families have the resources to bear this expense out of pocket for very long, and it’s not uncommon for a nursing home stay to wipe out a resident’s life savings.

It doesn’t have to be this way. At Beaton & Kiers PLLC, our Medicaid planning attorneys help families plan for the possibility of future long-term care needs, or for a loved one who needs help on a more urgent basis. Contact our law office today to schedule a consultation.

What is Medicaid Planning?

Medicare is the health insurance available to Americans 65 and older, but it does not cover nursing home care, except in extremely narrow circumstances. Federal Medicaid funds are available to help pay for care in a long-term care facility, but Medicaid has strict eligibility requirements. These include limitations on the amount of countable income and assets a person can have in order to qualify for benefits.

These restrictions exist to ensure that Medicaid benefits are available for those who need them most. But they can also result in those who need care having to “spend down” assets and income to qualify for care. Medicaid also has a five-year “look-back” period; if you have transferred assets to someone for less than their fair market value in that time frame, it could delay your eligibility for Medicaid assistance when you need it most.

Fortunately, there are mechanisms through which you can legally protect assets from the nursing home while still qualifying for benefits. Medicaid planning is most effective when done well before you need it, but it can help to protect some assets even in a crisis situation.

Crisis Medicaid Planning

Many people don’t think about the need for long-term care planning until someone they love is in a crisis, urgently needing nursing home care. If this is the situation you are in, you are not alone. We can help you navigate this stressful time with straightforward advice and compassion. We know what it’s like to have to manage a loved one’s urgent health and financial needs when the path ahead is not clear. Our services include:

  • Evaluating your family member’s current eligibility for Medicaid benefits, including reviewing any recent gifts or transfers that could jeopardize or delay eligibility
  • Taking all legal measures available to convert your family member’s “countable” assets to “exempt” assets
  • Preparing and filing your family member’s application for Medicaid benefits. Mistakes in the application process can result in denial of eligibility or costly delays, so we do everything possible to ensure your loved one has the best chance of being approved in a timely fashion.

Compassionate, Competent New Hampshire Medicaid Planning Attorneys

The Medicaid planning or application process can be overwhelming, but you don’t have to get through it alone. Amy Beaton and Larissa Kiers are members of the National Academy of Elder Law Attorneys (NAELA), and are committed to helping New Hampshire residents get the care they need with the support and compassion they deserve. To learn more about how to protect yourself or a loved one through Medicaid planning and long-term care planning, contact Beaton & Kiers to schedule a consultation.