Elder Law and Medicaid Planning
The costs of long-term care are rising at a rate that particularly affects middle class seniors. The majority of seniors will require long-term care in some form. Unfortunately, most of them are not prepared to deal with the extremely high costs and financial burdens that come with it. Financial hardship becomes a devastating possibility with care rates costing as much or more than $10,000 per month.
Long-Term Care Options
While some seniors are able to afford to privately pay for their long-term care, or are fortunate enough to carry long-term care insurance, others put their entire savings and life’s work at risk. Unfortunately, long-term care insurance is expensive and can be difficult to qualify for. Many who have long-term care insurance may still have to resort to Medicaid coverage to help supplement their care.
Medicaid was developed as a public benefits program, and is designed to provide health care coverage to lower income individuals, including those seniors 65 years of age and older, as well as the disabled and blind. Qualifying for coverage can be difficult. The bureaucracy of qualifying can be overwhelming. There are complex eligibility requirements for those in need, including look-back periods, income caps, penalties for gifts and transfers to family members. This makes finding and using an experience elder law attorney vital.
We Can Help
The Elder Law Attorneys at Polaris Law Group, LLC are dedicated to helping families navigate the complex waters of long term care and medicaid planning. We believe that it is never to early to start planning for one’s eventual needs. When it comes to your health, “an ounce of prevention is worth a pound of cure”. This is also true when planning your estate for the likely need for long term care. That is why we practice Proactive Elder Law Planning as part of making sure families are prepared ahead of time.
The attorneys at Polaris Law Group are experience and qualified estate planning attorneys. We are dedicated to providing proper estate planning advice to families looking to protect current and future generations. We help families throughout Missouri, St. Charles MO, St. Peters MO, O’Fallon MO, Chesterfield MO, Lake St. Louis MO, St. Charles County, St. Louis County, and surrounding areas.