You may prefer not to dwell on it; however, there is a very good chance you will need to qualify for Medicaid during your retirement years. If that does indeed come to pass, you may find that the combined value of your non-exempt assets is a potential bar to eligibility. Looking ahead, it helps to know what assets are considered disqualifiable assets for Medicaid and which assets are not considered countable resources for the purpose of determining eligibility for Medicaid in Oklahoma. Why … [Read more...]
Older Americans Month Is an Excellent Time to Learn More about Medicaid Planning
The population of older Americans has increased at historic rates in recent decades and shows no signs of slowing down anytime soon. It seems only fitting then to designate a month each year to honor them. Each year, we do that during the month of May in the United States. This year, during Older Americans Month, take some time to learn more about Medicaid planning and how it might fit into your estate plan or into the estate plan of an elderly loved one. The Senior Explosion in the U.S. If it … [Read more...]
What Assets Count for Medicaid Eligibility for Seniors in Oklahoma?
Like many people, you may have made it through your working years without giving Medicaid eligibility a second thought if you were fortunate enough to be covered under an employer-sponsored or privately purchased health insurance policy. As a senior, however, you may find that eligibility for Medicaid is crucial to help cover the high cost of long-term care. Your eligibility, in turn, will depend on several factors, including the value of your non-exempt assets. The Oklahoma City Medicaid … [Read more...]
What Assets Can You Have and Still Qualify for Medicaid in Oklahoma?
Even if you made it through your entire working years without ever turning to Medicaid for help covering your healthcare expenses, there is a very good chance you will need to do just that as a senior to cover the high cost of long-term care. If you do end up needing to qualify for Medicaid, both your income and your assets will be considered when determining eligibility. Knowing that, what assets can you have and still qualify for Medicaid as a senior in Oklahoma? Why Might You Need to Qualify … [Read more...]
How The Transfer Of Assets Can Impact Medicaid Eligibility
No one likes to look ahead to the possibility of needing long-term care, but failing to consider this very real possibility could be a costly mistake. Statistically, 70% of us will require long-term care before we die. If you end up in long-term care at some point, the cost of that care could cause you to turn to Medicaid for assistance, and if you failed to plan ahead, you probably will not meet the “countable resources” eligibility guidelines for Medicaid. Attempting to qualify for Medicaid … [Read more...]
Why Asset Protection Is More Important If You’re Getting Older
Oklahoma City Medicaid attorneys can provide assistance with the asset protection process. Medicaid attorneys help ensure your assets are safe from some prime potential sources of loss that arise as you get older. Unfortunately, as you age, the risk of asset loss increases because of the increased chance that you will suffer a serious illness or age-related infirmity that puts your health and wealth at risk. Parman & Easterday can explain why asset protection becomes more important as … [Read more...]
What Caregivers Need To Know About Medicaid
Oklahoma City Medicaid attorneys provide help to caregivers who are caring for a loved one. Whether you are caring for an aging parent, a disabled child, a sibling, or anyone else in your life, we can explain the benefits and services available to enhance the quality of life for the patient for whom you are providing care. Parman & Easterday has assisted many caregivers, patients, and their families with a wide variety of issues related to illness and the aging process. One key service … [Read more...]
When Is It Too Late to Engage in Medicaid Planning?
Sometimes people say "it is never too late." This may be true about some things, but there is such a thing as closing the stable door after the horse has bolted. You need to keep this in mind when it comes to Medicaid planning in Oklahoma, Kansas or Missouri. Why Medicaid? If you have worked hard all your life you may wonder why you should even consider the subject of Medicaid. The simple answer is that you have paid into the program during your working career, you are eligible for … [Read more...]
Should I Have a Durable Power of Attorney for Health Care?
Your estate plan is obviously going to facilitate the transfer of your financial resources after you die. However, a comprehensive, holistic plan should also address the contingencies that you may face before you pass away. This having been stated, incapacity is something that is quite common among elders. Incapacity planning will typically include the execution of a legally binding document called a durable power of attorney for health care. … [Read more...]
