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Medicaid Planning Archives

Lyft and other services could become part of Medicaid planning

For many Georgia residents, remaining in their home as they age is a top priority. With proper planning, that can be a reality for some. Medicaid planning is an important part of preparing for the future, as individuals must not exceed certain asset thresholds in order to qualify for Medicaid. When planning ahead, app-based transportation services like Uber and Lyft could also be a critical part of maintaining independence. 

Medicaid planning tips for single seniors

Growing older brings numerous responsibilities, many of which pertain to ensuring that the financial groundwork has been laid for a secure retirement. For some in Georgia, that means Medicaid planning. Looking ahead and making wise decisions regarding Medicaid funding is important, especially for senior citizens who are single. 

Worried about Medicaid planning and retirement? You're not alone

For those in Georgia who worry about having enough money to carry them through retirement, it's important to understand that these concerns are not uncommon. As the American population ages, many baby boomers are worried that their retirement savings won't last as long as needed. Medicaid planning is also an important consideration, and can greatly affect one's later years. 

A qualified charitable contribution can help Medicare planning

As Georgia residents near retirement age, it's important to start thinking ahead about Medicare. Making the appropriate changes a few years in advance can maximize one's Medicare benefit when the time comes. One way to engage in active Medicare planning is to consider the role that a qualified charitable contribution could play in future finances. 

Medicaid planning can help to protect assets

Nursing home care will become a fact of life for many Georgia individuals. While this type of care may be necessary, it does come with a hefty price tag. In fact, the average nursing home charges in excess of $8,000 per month for each resident. For those who have been diligent in their Medicaid planning, this may not be devastating news; however, for those who will be required to pay this expense on their own, the consequences can be substantial.

Trusts can affect Medicaid planning

A provision that limits the transfer of assets before a person becomes eligible for government medical benefits may also affect trusts. When a person in Georgia looks into estate planning, keeping this in mind will help ensure the protection of the estate. Medicaid planning requires one to understand how the transfer of assets may affect one's own medical care and the inheritance of beneficiaries. 

Medicaid planning and nursing home costs

As one ages, it is not always possible to remain at home. Sometimes, the Georgia resident's condition simply makes it too difficult for loved ones to care for him or her, and it is necessary to seek out nursing home care. While this may be a necessity, it also comes with a price tag. However, through careful Medicaid planning, this price tag can be minimized.

Medicaid planning allows the Georgia resident to protect assets

The simple fact is most Georgia residents will require some type of care as they get older. Some will be able to enjoy their golden years in the comfort of their own home surrounded by loved ones. Others, however, will require care beyond what loved ones are able or willing to provide. Yet, the cost of obtaining this outside care can be prohibitive. For this reason, Medicaid planning is essential to preserving one's assets and wealth.

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At Hodges Law Firm, we handle a wide range of legal issues for clients throughout the Atlanta area, including elder law, estate planning, probate, Medicaid planning and protection, asset protection, litigation, and business law and services. We are knowledgeable in the law and understand the real life implications of legal actions.