Medicaid Is for Seniors, Too

When we hear about Medicaid in the news, it is usually in the context where children are the beneficiaries.  While Medicaid does provide medical care for the poorest children, the ones who do not have health insurance and whose parents cannot afford to pay the children’s medical expenses out of pocket, it also provides care for adults who have no other means to pay for medical care.  As our economic situation gets worse, the number of seniors who need Medicaid to pay for their long-term care and other healthcare expenses will likely increase.  Being a Medicaid beneficiary at any age is not a glamorous state of affairs.  Whenever you are dealing with public benefits, you can expect a lot of hassles and unpleasant surprises.  For senior Medicaid beneficiaries, some of the surprises come after you are gone, when Medicaid tries to help itself to your estate during probate.  For help planning to rely on Medicaid after you retire or finding a way to afford healthcare without it, contact an Orlando estate planning lawyer.

Qualifying for Medicare Does Not Make You Ineligible for Medicaid

Everyone age 65 and older qualifies for Medicare, but it is a gross oversimplification to say that all healthcare for Florida seniors is free.  Medicare is more properly a taxpayer funded health insurance program for seniors.  Before you retired, your employer withheld Medicare taxes from your paycheck each pay period.  The only freebies in Medicare are that you don’t have to pay premiums for Medicare part A, which covers hospitalizations, and Medicare part D, which covers prescription drugs, might provide some inexpensive medications to you at no cost.  Other than that, seniors pay for Medicare, and for many, it is a source of financial stress.

By contrast, Medicare has no age limit.  Its benefits are available to everyone whose income and assets are below a certain threshold.

Long-Term Care for Medicaid Beneficiaries

Many seniors enter nursing homes as Medicaid beneficiaries, because Medicare nursing home benefits run out quickly.  If you will need Medicaid nursing home care, you should meet with a lawyer about an asset protection strategy.  When Medicaid is paying for your nursing home care, it reimburses itself by taking most of your Social Security check, and only giving you the Personal Needs Allowance, which in Florida is $130 per month.

Medicaid In-Home Care for Low Income Seniors

Residential care is expensive.  Therefore, by providing home health aide services to seniors, Medicaid is looking out for its own financial interests.  The goal is to delay the beneficiaries’ move to a nursing home, where they will need more Medicaid money.  In other words, choosing to age in place does not have to mean giving up your right to Medicaid benefits.

Contact Gierach and Gierach About Medicaid Benefits for Retirees

An estate planning lawyer can help you understand which Medicaid benefits you can get after you retire, including but not limited to nursing home care.  Contact Gierach and Gierach, P.A. in Orlando, Florida to discuss your case.

Source:

medicaidplanningassistance.org/medicaid-eligibility-florida/