LONG TERM CARE & GOVERNMENT BENEFIT PLANNING

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At Prosper Financial Services, we are your Medicaid and Long-Term Care planning specialists.  Whether you or your loved one needs care at home, assisted living, or skilled nursing, we will help you obtain the benefits you are eligible for and navigate the complexities associated with Long-Term Care.  Our services include but are not limited to:

  • Complimentary consultation to determine eligibility of benefits    

  • Creation, implementation, and execution of your personalized financial plan to obtain benefits

  • Direct management and handling of the government benefits application process

  • Lifetime representation of government benefits eligibility once qualified

Frequently Asked Questions

Can I qualify for Medicaid if I am over the asset resource limit?

With the proper steps, yes.  Whether you have property, retirement accounts, or investments, there are ways to qualify for Medicaid while preserving your estate.

Is it true that if I qualify for Medicaid, the State will put a lien on my estate when I pass away?

There is a potential risk of recovery if a Medicaid applicant dies without their estate secured.  This is why it is so important to address these issues with a knowledgeable professional who can help you address and prevent an estate recovery claim.

Can I qualify for Medicaid if my income is over the allowable limit?

Yes.  Income is not an automatic disqualifier for Medicaid eligibility.  If your income is higher than the allowable limit, the state may assign you a share of cost along with your eligibility or they may require a Qualified Income Trust (Miller Trust).  Either way, you can still qualify.

Is it true that if I transfer my assets, I will receive an automatic five year penalty for Medicaid benefits?

While some states do have a five year lookback period, that does not necessarily mean that any transfer of assets will result in the five year penalty.  Most of the time eligibility can be obtained in a short period of time, even if assets have been transferred.

Sometimes, life throws us a curveball in the form of long-term care. When a loved one can no longer care for themselves, there are a multitude of worries and uncertainties that a family will face. If planned for correctly, the financial piece does not have to be one of them. Seniorliving.org estimates that the average cost of skilled nursing in in the US ranges from $5,000-$12,000 per month depending on level of care and room type; and this cost continues to increase annually.

Many people do not realize that there are alternative options to spending down. At Prosper Financial Services, we will consult with you and assist you in implementing a long-term care plan that can help offset most or all of your healthcare expenses and allow you to save most of what you and your family worked so hard for. Medicaid, Veteran’s Benefits, and traditional Long-Term Care insurance options are all a possibility.

You do NOT need to spend down your life savings to qualify for government benefits.  

Call us today to learn about your options.