As an American, you probably have at least some awareness of the federally mandated Medicaid program. To sum it up as briefly as possible, the program helps low-income and disabled individuals cover necessary healthcare costs such as surgery, hospitalizations and prescriptions.
Those 65 years of age or older typically have an easier time meeting the eligibility requirements associated with Medicaid, but they will still benefit from experienced legal guidance. In many cases, an attorney can help increase your eligibility odds, even if you possess valuable assets. For example, a lawyer can help you set up a trust that will preserve your assets and ensure you remain eligible for Medicaid.
A great first step in effective Medicaid planning and elder law is learning why your application may result in denial. Some of the most common reasons for denial include the following.
- You are not a permanent American resident
- Your income is too high
- You have too many disposable assets
- Your application contains errors
- Your application lacks proper documentation
- You are not a legal resident of the U.S.
Good Medicaid planning and elder law assistance can help you learn how to transfer your assets into a trust or other legal document to prevent Medicaid application denials. An added benefit of qualified legal guidance is that it may open other doors for asset protection that you might have felt were closed to you in the past.
With current and future advancements in healthcare technology, Salem, Massachusetts, residents are living longer than ever. You can make the most out of your elder years by planning for your Medicaid needs right now.