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Medicaid Planning

Understanding Long-term Care Planning for Virginia Medicaid

Long-term care is designed to meet health needs for an extended time. These services help aging Americans live as independently and safely as possible when they can no longer perform everyday tasks and activities on their own.

Long-term care planning is a legal strategy that helps aging Americans plan for the high cost of different health care services as they age into their golden years of life. Proper long-term care planning can assist you, or a loved one avoid the worry and drain that healthcare costs will have on your savings and your hard-earned assets you may have planned to pass down to your family members.

VIRGINIA ANNUAL MEDIAN COST OF CARE (2020)

IN-HOME CARE COMMUNITY/ASSISTED LIVING NURSING HOME FACILITY
Homemaker Services $50,336 Adult Day Health Care $19,240 Semi-Private Room $91,980
Home Health Aide $52,624 Assisted Living Facility $58,200 Private Room $105,850

 

Resource: https://www.genworth.com/aging-and-you/finances/cost-of-care.html

Without the aid of Medicaid, Medicare, or Social security benefits, the cost of a Virginia nursing home can wipe out your family’s savings, retirement funds, or an inheritance for your loved ones. Our Virginia law firm can help you plan to protect your hard-earned savings from being spent down to pay for long-term care.

Virginia Medicaid Planning

Medicaid is a Federal and State program, and the rules vary from state to state. If you reside in Virginia and need Medicaid, then Virginia’s Medicaid rules apply. You can benefit greatly from an expert Medicaid planning attorney who understands Virginia’s specific Medicaid qualification, application, and process for approval.

How Do I Become Eligible for Medicaid Benefits in Virginia?

To receive Medicaid benefits in Virginia, you or a loved one must meet eligibility requirements. To qualify for benefits, you must:

  • Be over the age of 64; or
  • Be blind or disabled; or
  • Have a child, parent, or spouse in your household who is blind or disabled.

Without the assistance of Medicaid coverage in Virginia, you or a loved one will be held financially responsible for the monthly care costs. Our Zion Crossroads, Lake Anna, Troy, and Mineral, Virginia law firms can help you or a loved one protect your savings from being spent down on the high costs of elderly care.

What if I (or my loved one) need to qualify for Medicaid as quickly as possible?

We can create efficient and effective crisis plans for those facing a severe health crisis or who need to qualify for Medicaid right away. If you are your loved one need to qualify for Medicaid, please seek the advice of an experienced elder law attorney before attempting to re-title assets or spend down assets on your own. The Medicaid laws are complex and change regularly. Trying to do Medicaid planning on your own may delay qualification and do more harm than good.

What if my loved one becomes incapacitated before they sign powers of attorney?

We can help establish a guardianship (ask the Court to appoint a person to make personal and health decisions) or conservatorship (ask the Court to appoint a person to make financial decisions) to empower loved ones to make decisions for an incapacitated person if they become incapacitated before they have powers of attorney in place. Getting a guardianship or conservatorship in place requires court action and takes time, so if you think your loved one may need this kind of help, it is better to get started now before a crisis develops.

If you have questions about Medicaid planning for you or a loved one, please call or email us to schedule a free initial consultation. Commonwealth Life and Legacy Counsel have offices in Zion Crossroads, Lake Anna, Troy, and Mineral to best serve our central Virginia community.

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