There are a number of options to pay for nursing home care in New Jersey — out-of-pocket payments, long term care insurance, liquidating your assets to qualify for Medicaid, or through Medicaid planning.
One way you will not be paying for nursing home care is with private health insurance. Your health insurance does not pay out to cover care in a long-term facility. Long-term care insurance would pay a portion of these costs, but you would still have out-of-pocket expenses. When it comes down to it, most Americans end up relying on Medicaid to pay for nursing home care.
As you age, it is only natural to worry about how you and your family can pay for your future care. Planning ahead ensures you have more control over your medical care and quality of life when the time comes to move into a nursing facility. At the same time, it reduces the financial stress your family experiences. With the right plan in place, we can help your family keep more of the assets you earned while Medicaid pays for your care.
Our Medicaid Planning Team
Our Medicaid planning team includes estate attorneys, social workers, and even a registered nurse. We guide you through a step-by-step process to understand your financial situation, your needs, and how to help you qualify for Medicaid as soon as possible.
Our nurse can help you understand the services you may need, and our social workers can help coordinate care and services not covered by Medicaid. With our team on your side, you can feel confident you will get the care you need and have a plan to pay for it.
For a legal consultation, call 856-857-6007
The Medicaid Planning Process
How the Medicaid planning process works varies from family to family. We treat every client and their family like they are personal friends, getting to know them and asking the difficult questions to better understand their financial goals and their current and future care needs.
No matter your situation, we can put a plan in place to protect as many of your assets as possible. Depending on the size of your estate and how much time you have before you need to pay for nursing home care, we can use gifting, trusts, and a variety of other financial vehicles to help your family keep as much of your nest egg as legally possible while still qualifying for Medicaid.
If we do not put a Medicaid plan in place before you need to pay for nursing home care, you may be in a position where you must spend all your children’s inheritance before you can get the coverage you need from Medicaid. However, we will do everything we can do avoid this. We might also be able to help your loved one plan for Medicaid while already in a nursing home.
Contact Our Medicaid Planning Team
Bratton Law can help you build a personalized plan to protect your assets while also allowing you to qualify for Medicaid coverage sooner. Call our New Jersey office today at 856-857-6007 for an appointment.