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Paying for Home Healthcare with Medicaid

Paying for Home Healthcare with Medicaid

Just because you worked hard to save up money your whole life does not mean that you want to spend that hard-earned savings on medical care. Sadly, Americans are facing a crisis of rising healthcare expenses, and many seniors find their entire retirement savings end up going to providing medical care for themselves and their spouses. Even the adult children of many seniors find themselves footing the bill for home healthcare and other related services that are simply too much for families to provide. 

So, how do you ensure quality medical care late into your retirement, while preserving some of your retirement? The answer is, you need to plan early. An experienced estate planning attorney near you may be able to help answer some of life’s tougher questions. In particular, you may be surprised to learn that Medicaid may be available to pay for routine medical care, nursing home services, and even in-home respite care. But early planning truly is the key. 

What is Medicaid, and How Does it Help Seniors?

In the U.S., the Centers for Medicare and Medicaid Services (CMS) oversee the delivery of healthcare through two distinct programs. The first is Medicare, a federally funded earned-benefit program designed to provide medical coverage to seniors and those with complete and total disabilities. The second is the needs-based program, Medicaid, which serves low-income individuals. The Medicaid program is very different from Medicare, because Medicaid is managed and delivered at the state level. This means each state has a different means test and system for delivering healthcare to those with limited economic resources. 

In Florida, Medicaid provides a lot of things that seniors need. In fact, Medicaid is the primary payment source for the vast majority of nursing home residents in the state. It also covers the cost of home healthcare, including assistance with things like:

  • Respite care
  • Activities of daily living
  • Private nursing care
  • In-home non-medical assistance

There are a lot of things that Medicaid can cover, even beyond this non-exhaustive list. You should check with the State or contact an attorney to discuss options. 

How Does Home Health Get Paid?

When someone qualifies for Medicaid, it generally means they no longer have resources to pay for care on their own. However, with some advanced planning, some people are able to prepare years before they need it, and in doing so preserve their retirement and savings. Then, once they require extensive assistance, the state picks up the cost. This is not fraud, nor is it wrong. In fact, the law allows for it and provides specific loopholes that seniors just need to take advantage of in order to preserve wealth for future generations. 

If you or someone in your family are considering the prospect of needing advanced healthcare services, long-term care, or in-home care in the next five to 10 years, now is the time to begin preparing early and setting up your estate plan. Call the Sejour-Gustave Law Firm, PLLC today, and schedule a private meeting with an attorney who can help answer your questions and give you the guidance you need to protect what matters most.

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