18 Nov Can I Rely on Medicare to Pay for the High Costs of My Kansas Long-Term Care?
As you think about your future and the possibility of needing long-term care, are you assuming, like many families, that Medicare will cover long-term care expenses? Unfortunately, it will not and this is why. Medicare is designed as an acute payor system, covering short-term, medically necessary care such as hospital stays and limited skilled nursing or rehabilitation services. However, it does not extend to custodial care, like assistance with bathing, dressing, and other daily activities, which forms the backbone of long-term care. With the average cost of long-term care reaching thousands per month, planning for these expenses is crucial.
Because most families are unaware of just how costly long-term care can be, they are often unprepared for the financial burden. Additionally, there is a common fear that they will have to sacrifice their home or assets entirely to qualify for assistance. The good news is that, with the right guidance, you can preserve your family’s home and other essential assets. Understanding Medicaid eligibility rules is key, as they allow for certain protections to prevent the loss of assets, especially when the planning is done with the expertise of an elder law attorney who knows Kansas-specific regulations.
In keeping with this discussion, another common pitfall families face is making annual gifts to children or
grandchildren, not realizing that these gifts could impact their ability to qualify for Medicaid. You need to be aware that Medicaid has a look-back period during which these gifts are examined, potentially resulting in penalties that delay or reduce benefits. By working with an experienced elder law attorney like Kristen Armstrong, you can avoid these pitfalls and make sure your asset planning aligns with Medicaid’s requirements.
With Kristen Armstrong’s guidance, families across Kansas can access personalized long-term care planning that considers every aspect of their financial situation. Kristen helps families navigate Medicaid eligibility, structure their assets for protection, and create a sustainable plan to cover long-term care costs without unnecessary sacrifices. From understanding the look-back period to preserving family assets, Kristen is committed to making this process as smooth as possible.
We know this article may raise more questions than it answers. Planning ahead for long-term care is one of the most meaningful ways you can protect your aging loved ones and provide peace of mind for your family. Our team at Generations Estate Planning & Elder Law, LLC is dedicated to providing solutions for the elderly, the disabled and their families. No matter what your situation, we are here to listen to the needs of our clients and provide information, advice and most importantly, support. We would love to speak with you and help you answer your legal questions. Call us at 620-662-2905 to schedule your initial consultation.
These materials have been prepared by Generations Estate Planning & Elder Law, LLC for general informational purposes only and are not intended and should not be construed as legal advice or legal opinion on any specific facts or circumstances. Every case is unique. The information contained herein is not intended to create, and receipt of it does not constitute, a lawyer-client relationship nor is it intended to substitute for the advice of an attorney. Readers should not act upon this information without seeking professional legal counsel.
