Medicaid Planning is an area of law that concerns itself with assisting clients in qualifying for Medicaid while preserving their life savings. Typically, Medicaid Planning involves clients who require nursing home care, but it can also apply to those seeking community based Medicaid programs. Since the asset limitation for a single person is $2,382.00, and $130,380.00 in 2021 for a married couple. It is obvious that single individuals and married couples with assets in excess of these amounts are in need of legal advice in order to protect as much of their savings as possible.
Medicaid cases fall into two categories; crisis and pre-crisis. Crisis Medicaid planning concerns itself with clients who are in need of Medicaid at the present time and, therefore, requires strategies which work immediately. For example, a Medicaid applicant seeking nursing home admission and Medicaid qualification, whose income exceeds $2,382.00 in 2021, must establish a Qualified Income Trust, with proper administration of that trust in order to reduce countable income. On the other hand, pre-crisis planning involves strategies designed to work in the future. An example of pre-crisis planning is establishing a 5-Year Trust. This type of planning is implemented for the purpose of qualifying for Medicaid after 5 years. It also protects the assets in the trust, from the children’s creditors, divorces or premature death.
Most families who visit The Elder Law Center of Mondschein and Mondschein, P.A. are understandably afraid of losing most, if not all, of their assets. This situation normally involves the need for long term care in a nursing home, which may cost up to $10,000.00 per month. They have consulted with other professionals who reinforce the fear that the chronically ill individual and/or the spouse will probably lose most of their assets. They have been given incorrect advice which may exacerbate the situation. Still other non-licensed Medicaid Planners, who are not attorneys, have never passed a bar exam, do not have a Board Certified Elder Law Attorney on staff, and do not carry Mal Practice Insurance, claim that attorneys are too expensive. The truth is that typically it is very reasonable to hire a firm with a Board Certified Elder Law Attorney when you consider the possible consequences of not hiring one.
At the Elder Law Center of Mondschein and Mondschein, P.A. we practice in the areas of Crisis and Pre-Crisis Planning. As a Florida Board Certified Elder Law Attorney, Nationally Certified Elder Law Attorney and Past Chair of The Elder Law Section of The Florida Bar, Leonard E. Mondschein, J.D., LL.M, CELA, CAP, personally meets with each new client to conduct an initial consultation to determine the needs of that client. Both he and his partner, Philip H. Mondschein, J.D., LL.M, work with each client directly (not through a paralegal), to assist in the planning and qualification process for Medicaid. They have been in practice for over 20 years in the area of Medicaid Planning, so they have the experience to assist those clients who are in need of crisis or pre-crisis Medicaid Planning.
If you are concerned with the high cost of long term care, call the Elder Law Center of Mondschein and Mondschein, P.A. for a free telephone consultation: (305) 274-0955.
WHAT IS MEDICAID PLANNING?
Medicaid Planning is a way to qualify for public health insurance (Medicaid), even if a single individual or married couple has assets or income over the Medicaid limit. This type of planning uses many different approaches depending on the situation.
IS MEDICAID PLANNING LEGAL?
Yes. The Medicaid laws were written with several provisions which are favorable to those individuals who are presently applying for Medicaid as well as those who are planning for the future. These provisions protect certain assets and/or income depending on the facts of each case.
IS MEDICAID PLANNING THE SAME IN EVERY STATE?
No. Even though Medicaid is a Federal program, it is separately administered by each state. Although there are Federal laws which can not be violated by the States, each State has certain options which allow the state to apply the law differently.
IF A PERSON QUALIFIES FOR MEDICAID IN FLORIDA, WILL ANOTHER STATE ENROLL THAT PERSON INTO THEIR MEDICAID PROGRAM?
No. Again, each State may enact certain rules which are different from Florida, and therefore, if a person on Medicaid in Florida moves to another state, he or she may not qualify for Medicaid in that State based on the planning done in Florida. If a person applying for Medicaid in Florida is contemplating moving to another state, the laws in that state should be reviewed before any planning is done in Florida.
IS IT EVER TOO LATE TO DO MEDICAID PLANNING?
No. Whether a person is applying for Medicaid currently or is concerned about the future, Medicaid Planning should be considered. The strategies used in crises and per-crises planning may differ, but there is usually a plan that is better than doing nothing.
HOW DO I FIND SOMEONE WHO HAS EXPERIENCE IN MEDICAID PLANNING, KNOWS THE LAW, ADHERES TO ETHICS RULES, AND IS LICENSED AND INSURED?
A law firm that has a Florida Board Certified Elder Law Attorney specializing in Medicaid Planning is typically the best way to be sure that you are hiring the right person for Medicaid Planning. A Florida Board Certified Elder Law Attorney has passed a Bar Exam, as well as a Specialization Exam in Elder Law. If the attorney is also nationally certified in Elder Law (CELA), he or she has passed another difficult exam. Finally, if the attorney has held state, as well as, national leadership positions, he or she has then been recognized by his or her peers as a leader in the field of Elder Law.
FAQ QUICK LINKS
10691 NORTH KENDALL DR.
MIAMI, FLORIDA 33176
PHONE: (305) 274-0955
20801 BISCAYNE BOULEVARD
AVENTURA, FLORIDA 33180
PHONE: (305) 274-0955