We deal with medicaid on your behalf,
saving you time and money.

Financial Issues When Dealing With Long Term Care

Today, one of the most stressful problems facing seniors who enter long term care facilities is the loss of their life savings by paying for long term care.

An alternate source of funding for skilled nursing costs could be the long term care Medicaid program. When entering a nursing facility you have one of two options.

The first option is a total spend down of your life savings on long term care costs. The second is to be able to preserve a substantial amount of your life savings, while at the same time qualifying for Medicaid benefits.

There is a large information gap for families on how to access long-term care benefits under the Medicaid program and avoid unnecessary spend down of resources.

What We Do – And How We Can Help You

Senior Planning Services (SPS) provides estate preservation from Medicaid long term care spend down. You don’t have to spend your life savings paying nursing home costs. If you are responsible for the management of the assets of someone who is currently in or about to enter a nursing home facility, the following information is vital to that person’s financial health. The best time to call us is when the person is entering the nursing home.  Let us help you qualify for Medicaid before you start on a private pay with the long term care facility.  We find so many times that a client comes to us  who has been private paying and realize after the fact that we could have prevented it.  Even if you know of someone who is currently in a nursing home in Texas who is private paying, why not tell them about our service and give us a call.  It might be one of the most important calls they ever make.  And they’d be thanking you.

If you know the guidelines and how to apply them, you will find that in most cases you are not required to spend all your money, but can actually preserve a large part of it.

At one end of the information spectrum are the social workers, discharge planners and admission directors who focus on solutions to medical and nursing care treatment. At the other end is the Texas Department of Human Services, a dedicated group of Medicaid workers. It’s their job to process applications and to approve or reject applicants for benefits.

As a result of this information gap, people are not able to obtain all the information needed to make informed decisions regarding the issues of long-term care planning and preservation of their estate as the guidelines might afford them.

Medicaid Myths & How You Can Avoid Them

There are many myths about Medicaid. It’s often misrepresented as a welfare program only. Nothing could be further from the truth. In fact, “when a stay-at-home spouse can keep up to $2,980.50 of the total monthly income and up to $119,220.00 of the total family assets (in some cases, the stay-at-home spouse is allowed to keep all of the total family assets) it’s difficult to see it as a poverty program.

Spending all of your money on nursing facility costs when you don’t have to is bad enough. Now in Texas, an estate recovery law enables the state to file a claim on homesteads and other property to recover nursing facility costs incurred by the state (some exceptions do apply). Previously in the state of Texas, homesteads were considered an exempt asset and the estate recovery law did not exist.