Understanding Medi-Cal and It's Benefits
If you are wondering about how you will pay for long-term care when it is time, you are not alone. In California, an estimated 70 percent of people will need long-term care at some time during their lives, according to the Department of Healthcare Services and the state of California. At the California Elder Law Center PC, we are dedicated to helping people just like you in planning for care, including preparing for how the care will be paid for.
Defraying the cost
California nursing home care costs more than $8,000 per month, which is nearly $100 thousand annually. It is highly important for middle-class families to understand what they might be entitled to receive, how much they have paid for through their taxes and how they might reduce this huge expense. Overriding everything will be the goal of making certain your loved one will be receiving the kind of care that they need while also not losing everything because of the huge cost. Options for care could be nursing homes, assisted living and in-home care.
Understanding what Medi-Cal might pay for
A starting point is determining whether or not Medi-Cal will pay for all of the expenses or for a portion of them for your nursing home stay. An important distinction is that Medi-Cal says it will pay for all or some of a nursing home stay. Medi-Cal does not say it will pay for in-home care or assisted living.
Medi-Cal also states that you may keep all of or a portion of your savings. The rules allow you to keep a surprising amount of your savings. Additionally, you are legally able to protect, transfer and shelter the funds you have above and beyond the allowed savings limit. This can help you to supplement your care so that you receive the quality that you deserve and need.
Exempt assets in California
When you receive a letter from the state regarding Medi-Cal and your eligibility, you may read a statement that says, “You are the owner of an exempt asset.” This statement refers to your residence. Your home’s value is not counted when your eligibility for coverage is determined. You still have to take steps to protect your home after you have passed away, however. The state may attempt to place a lien against your home or force a sale in order to recoup the $8,000 a month it paid for your care. Each year, California receives $80 million from families who did not take the proper steps to protect the homes of their loved ones who required nursing home care.
How the California Elder Law Center PC can help
With proper planning, your fear about what will happen to your home and your savings if you need nursing home care can be alleviated. At the California Elder Law Center PC, we have more than 18 years of experience in helping people just like you protect their homes and their life savings in the event care is needed. We are Southern California’s leading elder law firm, and we understand how to complete the appropriate Medi-Cal planning to protect our clients and their assets. It is possible to do so safely, legally and economically. We can help you to access the benefits to which you should be entitled while also protecting everything you worked so hard for.
Contact The Lakewood Medi-Cal Planning Lawyers Of The California Elder Law Center PC
We all want our loved ones to have access to the care that they need as they grow older. Medi-Cal can help keep access to that care affordable for families like yours. Turn to the California Elder Law Center PC for help securing the Medi-Cal benefits to which your loved one is entitled.
Schedule a free consultation with one of the attorneys by calling 562-377-7710 or toll free 877-377-7411, or by simply contacting us online.