Phone: 727-397-5571

Medicaid and Asset Protection Planning in Florida

Medicaid can be very helpful to help pay for your loved one’s long-term care in Florida. We know that long-term care can be very expensive, sometimes exceeding $10,000 per month for nursing home care. Few can afford to pay these costs for any length of time. The good thing is that our social safety net extends Medicaid to help pay for long-term care for our elderly and disabled population.

Accessing Medicaid for your loved one’s long-term care can be very confusing and difficult in the best of circumstances. The United States Supreme Court has called Medicaid “Byzantine” in its complexity, and we certainly agree. Medicaid in Florida has many confusing and sometimes contradictory rules in order to help you or your loved one. This means that hiring a board certified elder law attorney to assist you and your loved one's Medicaid application can be integral to the process.

Our office has done hundreds of Medicaid applications and has never had a denial. We know all of the rules and the legal ways to set money aside and protect assets for your loved one’s care. Hiring us to apply for Medicaid for you or your loved one will provide you peace of mind knowing your loved one will get the proper care, the assets are protected, and you have someone to help you deal with the nursing home or assisted living facility as part of the process.

In addition to helping our families protect their assets for their loved ones, we offer Life Care Planning services as well. Life Care Planning is a holistic approach to elder law where we offer not just legal and financial advocacy but healthcare advocacy as well. We are the only life care planning law firm in Pinellas County and are proud of our commitment to our clients and their families.

2017 Asset and Income Levels for Florida Long-Term Care Medicaid

 Assets allowed for single applicant

$2,000 

 Assets allowed for the community spouse

$120,900 

 Gross income for the Medicaid applicant

Less than $2,205* per month 

 Gross income for the spouse

Unlimited 

 Minimum Spousal income diversion

$2,030/month (until 6/30/18) 

 Maximum Spousal income diversion

$3,022.50/month 

 Exempt value of home (2017)

$560,000 

 Transfer Penalty Divisor

 $8,944/month as of 7/1/17 

Community Spouse Housing Allowance

$609/month 

Medicare Co-Pay (days 21-100)

$164.50/day

 *If income is higher, a qualified income trust will be required.

It is Never Too Late to Plan

Most people think that if your loved one does not protect assets within 5 years of going into the nursing home, there is nothing that can be done to protect assets.  But that is wrong!  While protecting assets from the high costs of nursing home or assisted living can be difficult, it can be done even when your loved one is already in long-term care.  If you would to learn more about Medicaid in Florida, Veterans Benefits or asset protection planning, please come to one of our informational free seminars!

Has your Elder Just Gone to the Nursing Home?

If your loved one has had a recent downturn in health, you will definitely have a lot of questions. This short guide should help answer some questions you have on Medicare, Medicaid and more.

Qualified Income Trusts

Applying for Medicaid in Florida can be very difficult.  There are both income and asset issues in any application. If the applicant's gross income exceeds the applicable limits, a Qualified Income Trust may be necessary. Learn more about legally lowering the applicant's income with a Qualified Income Trust.

Gifting of Assets

Transferring assets away within five years of a Medicaid application can create a transfer penalty, rendering the elder ineligible for Medicaid for a set period of time. This link can teach you more about calculating the Florida Medicaid transfer penalty.

Attend a Free Seminar on Medicaid!

Whether you are looking to help your elder or protect your own assets from the high cost of nursing home care, we offer a free, monthly seminar to learn more. In our seminar we discuss the following matters:

  • The cost of long-term care
  • Different types of long-term care facilities
  • Medicare benefits and the rehabilitation process
  • Medicaid and long-term care
  • VA benefits
  • Long-term care insurance
  • Pooled Trusts
  • Irrevocable asset protection trusts
  • Getting good care for your elder
  • Your questions answered
  • And much, much more!

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