4 Common Questions Regarding Medicaid Planning

If you would like to obtain Medicaid, but do not satisfy the program’s requirements, then you are going to need to hire someone who can help you plan for Medicaid.

Going over the four most common questions regarding Medicaid planning, and speaking with a Medicaid planning lawyer, will allow you to obtain the medical care you need.

Question 01: Can A Lawyer Help Me Obtain Medicaid? 

The answer to the question outlined above is “Yes.”

A lawyer can help you obtain Medicaid. And, with that in mind, one of the most common forms of help a lawyer can offer is planning your estate, so that you abide by Medicaid’s requirements.

Just as an example, if you do not meet Medicaid’s asset limits – you have too many assets, for example, or too much income – then a lawyer can help you arrange those assets so that you now meet those limits.

Outside of the above, a lawyer who specializes in Medicaid planning can help in a variety of other ways.

Question 02: What Is Medicaid’s Asset Limit? 

Right now, within the state of Florida, Medicaid’s asset limit is as follows: you cannot have more than $2,000 worth of assets.

The above comes with a few major caveats:

• If you own more than $2,000 worth of personal belongings, then that is fine.
• If you own a personal residence that is worth more than $2,000, then that is fine.
• If you own a personal vehicle that is worth more than $2,000, then that is fine.

Outside of the above, the other component of Medicaid’s asset limit is a monthly income that cannot exceed $2,829.

If your monthly income is greater than that, then you do not qualify for Medicaid and, as such, cannot have the program pay for your medical expenses.

Question 03: If Your Medicaid Application Is Denied, Can You Still Get Medicaid? 

You can still get Medicaid, even if your application is denied. But, just as you might assume, you will either need to reapply for Medicaid or appeal your denial.

If there was a specific reason for your Medicaid denial – too many assets, for example – then you will need to deal with that, before you can obtain Medicaid.

Question 04: How Long Does Medicaid Approval Take? 

The exact answer to this question is “It depends.”

Every state is required to respond to a Medicaid application in forty-five days. But, this isn’t necessarily something that happens every time, as a longer wait is not uncommon.

Given the above, it will, very likely, take around 45 days – give or take – for you to get approved, or denied, for Medicaid.

If you have a particularly complex case, though, then it may take longer to get approved. 

Speak With A Florida Medicaid Planning Lawyer Today 

If you would like to obtain Medicaid, but do not meet the program’s requirements, then you’re going to need some help.

Speak with a Florida Medicaid planning lawyer at the Millhorn Elder Law Planning Group today and we will help you arrange your assets in a manner that allows you to obtain Medicaid.

Sources: 

benefits.gov/benefit/1625

acl.gov/ltc/medicare-medicaid-and-more/medicaid/applying-for-medicaid