What is Medicaid planning?

Medicaid planning is the process of organizing finances to meet the eligibility requirements for Medicaid in California. Medicaid is a government-funded health insurance program that can help cover the costs of long-term care for those who qualify. In order to become eligible for Medicaid, an individual must meet certain financial criteria, as determined by the state. Medicaid planning involves finding ways to reduce the amount of income and assets the applicant has, so that they are within the limits set by the state. This can include transferring assets to a trust, setting up certain types of investments, modifying a will, or using other strategies. The goal of Medicaid planning is to help the applicant receive the benefits they need while protecting their assets. It is important to note that Medicaid planning in California should always be done under the guidance of an experienced elder law attorney. This is because the rules and regulations surrounding Medicaid eligibility can be complex and hard to navigate.

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