Pay Someone to Help You
to Qualify for Medicaid and Protect Your Life Savings
You can protect your life savings by hiring someone to take care of you while you live in your home.
Let’s assume that you have an illness and it’s likely that you will need nursing home care in the near future. But for now, with a little help cooking, cleaning and assistance getting around, you can still remain in your home. Your monthly income is equal to or below the limit to qualify for Medicaid, but your resources are $108,000, $100,000 over the $8,000 limit. Under these circumstances, Medicaid allows you make a personal care contract with one of your children, person or a company to provide the services you need to continue living your home. In exchange for the services, you pay them the extra $100,000.
In this example, let’s assume that you made the contract with your adult daughter. Two or 3 years later, your condition worsens, you can no longer live in your home with help, and you have to enter a nursing home. If the contract satisfies all necessary legal requirements, the $100,000 that you paid to your daughter does not violate the 5yr look back rule and you qualify for Medicaid because your resources are equal to or below the $8,000 limit.
By making the personal care contract with your daughter, you kept the excess $100,000 in the family instead of giving it to the nursing home. If you didn’t use the personal care contract to protect the excess $100,000 in life savings, and instead immediately entered the nursing home, you may have had to use the excess $100,000 to pay for nursing home care. And at an average annual cost of $117,516, it would not take long for the nursing home to completely wipe the extra $100,000 in life savings.
Want Peace of Mind and a Complete Evaluation of Your Case?
Call (610) 347-5035 NOW or Click HERE to Schedule a Consultation with Chester County Pennsylvania Nursing Home & Elder Law Attorney, Michaelangelo L. Dippolito. Click HERE to see the attorney’s background.
Not Ready to Speak to an Attorney Yet? No Problem.
Get this FREE Book and Consumer Protection Guide, Paying for Nursing Home Care in Pennsylvania, A Consumer Protection Guide on What You Need to Know to Protect Your Legal Rights. Here’s Some of What’s in the FREE Book and Consumer Protection Guide:
- What’s it Cost & Who’s Gonna Pay?
- 10 Moves You Can Make to Qualify for Medicaid & Protect Your Life Savings
- Critical 5 Step Process to Your Medicaid Claim for Nursing Home Care
- What You Need to Know About Lawyer Fees
- Arming Yourself with Knowledge is the First Step to a New Beginning
Still Not Ready and Want to Learn More Before You Move Forward? No problem.
Click HERE for more information on Nursing Home & Elder Law in Pennsylvania, and remember, we’re just a phone call away at (610) 347-5035.
Chester County Pennsylvania Nursing Home & Elder Law Attorney with ThePeoplesLawFirm.com