What is Medicaid planning?

Medicaid planning is a process in which people in Florida plan ahead to become eligible for Medicaid benefits. Medicaid is a government health care program that provides medical coverage to individuals who meet certain criteria, such as those with limited incomes and resources. Medicaid planning involves making certain arrangements and taking certain steps to ensure that individuals will be able to access the benefits of the program. One common method of Medicaid planning in Florida is making certain gifts or dispositions of assets. These gifts or dispositions are done in a way that allows an individual to still meet the Medicaid eligibility criteria as the assets are transferred away. Making such gifts to family members, trusts, or charities can help ensure a person is able to access the benefits of Medicaid in the future. In addition to gifting assets, Medicaid planning can also involve purchasing special annuities or long-term care insurance. This can assist individuals with protecting their assets and qualifying for Medicaid benefits. Medicaid planning also sometimes includes making sure that any money received from an inheritance, house sale, or settlement is used for medical expenses that meet Medicaid criteria. Medicaid planning is a complex and ever-changing area of law that should be undertaken with the help of an experienced attorney. An elder law attorney can help individuals in Florida plan for the future, protect their assets, and maintain their eligibility for Medicaid benefits.

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