Myth: “A government program will take care of me.”

Fact: Government programs are difficult to qualify for and have very specific requirements for LTC services. A number of public programs – including Medicare, Medicaid and veteran’s services – may help pay for some LTC services in certain circumstances. Yet each program has specific rules that define which services are covered, when benefits are paid, who can qualify, and the dollar amounts individuals must pay on their own.

When people are able to qualify for Medicaid and the program pays their LTC costs, there’s a catch. Federal law requires states to recover the money Medicaid spent on their behalf from their estate after they pass away. Medicaid could put a lien on your home in the amount of the LTC expenditures, leaving your family with nothing.

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David Wingate is an estate planning and elder law attorney at Estate and Elder Planning by David Wingate. The Estate and Elder Planning office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick, Washington and Montgomery Counties, Maryland.

Notice: this Blog is published as a free service of the Estate and Elder Planning by David Wingate. The information is for general informational purposes only and does not constitute legal advice. For specific questions, please consult with one of our experienced attorneys. We encourage you to share this newsletter with anyone you think may be interested.