Why Seek Advice For Medicaid?

By James E. De Martino

As life expectancies and long term care costs continue to rise, the challenge quickly becomes how to pay for these services. Many people cannot afford to pay $6,000 per month or more for the cost of a nursing home, and those who can pay for a while may find their life savings wiped out in a matter of months rather than years.

Fortunately, the Medicaid program is there to help. In fact, in our lifetime, Medicaid has become the long-term care insurance of the middle class. Note, however, that the eligibility to receive Medicaid benefits requires that you pass certain tests on the amount of income and assets you have.

The reason for Medicaid planning is simple. First, you need to provide enough assets for the security of your loved ones---they, too, may have a similar crisis. Second, the rules are extremely complicated and confusing. The result is that without planning and advice, many people spend more than they should and their family security is jeopardized.

James E. De Martino is licensed to practice in the State of New Jersey.
We specialize in NJ Medicaid and Asset Protection legal services.