The likelihood that certain Georgia residents will need long-term care and financial assistance later in life is high. Even if someone is in generally good health, the possibility of an incapacitating event still exists, particularly in a person’s elderly years. As a result, it is wise to think about planning for such possibilities and how care will be handled and paid for. For some, learning about Medicaid eligibility may be useful.
Medicaid benefits can help handle some financial details that come along with needing medical care. However, there are several eligibility requirements to meet before a person can obtain these benefits. In particular, having an income that does not exceed a specified amount is typically one of the most significant stipulations.
Some details to take into consideration in regard to Medicaid qualifications include the following:
- Modified Adjusted Gross Income plays a role in financial eligibility, which takes taxable income and tax filing relationships into account.
- Applicants must be a resident of the state from which they receive their Medicaid benefits.
- A medically needy program may apply in certain states, which could help individuals whose income is over the limit qualify for benefits after spending down their income.
Medicaid eligibility can certainly be tricky to understand, and if Georgia residents are trying to plan for the possibility of needing this assistance in the future, knowing how to best do so is not always clear. Fortunately, there are options that interested parties may be able to explore that could help them determine available avenues for planning. It may also be in their interests to consult with knowledgeable estate planning attorneys who have experience in Medicaid planning.
