If a Medicaid recipient’s financial situation changes in any significant way, it will impact their Medicaid eligibility. If they don’t take pro-active steps to deal with their finances and eligibility issues before their annual Medicaid Renewal, they could have a lapse in coverage or lose their benefits all together.
Some of the financial changes that can impact Medicaid eligibility include:
There are other situations specific to Medicaid where a Continuity Consultation would be helpful. For example, a Medicaid recipient’s home will not be counted towards the eligibility asset limit if the recipient files an Intent to Return home statement, but those statements have a time limit. When that limit runs out, the home will be counted and the Medicaid recipient’s eligibility and coverage could be in jeopardy, which means they could use our Continuity Consultation.
The long-term care covered by Medicaid is so costly that it would quickly deplete the savings of most seniors if they suddenly had to pay out-of-pocket because a change in finances led to a loss of eligibility. Our Continuity Consultation is designed to prevent this kind of financial disaster. That can be especially helpful for seniors who have Medicaid’s nursing home coverage since the private pay price for nursing homes is so high, but it’s also useful for seniors who are covered for long-term care in their own home, the home of a loved one or an assisted living residence.
The first step in our Continuity Consultation is a free phone call. During this 20-minute conversation we assess the situation, determine if we can help and decide how to proceed. Next, we schedule a meeting with one of our Senior Benefits Advisers, who are Certified Medicaid Planners, to review the client’s financial and healthcare circumstances in further detail
We then prepare a customized plan with financial strategies, information about long-term care programs, and recommendations for making the most of the new financial situation without losing Medicaid benefits. Our clients will receive a written copy of the plan, which will include all the information discussed in the meeting with the Senior Benefits Advisor, so they have a clear understanding of the best path forward for themselves and their family. This will include:
Fill out the contact form below and one of our benefits associates will be in touch soon. They will schedule the free, 20-minute phone call discussed above that will determine if this service is a good fit for your situation.
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