What is Medicaid planning?

Medicaid planning is a process used in Kansas (along with other states) to help individuals and families prepare for long-term care and other health-related costs. In essence, it is a way to make sure that individuals receive the necessary medical care that they need, but do so in a way that is affordable and cost-efficient. Medicaid planning helps individuals ensure they are eligible for Medicaid benefits while retaining as much of their income and assets as possible. It can involve creating trusts and other financial instruments to protect income and assets. For instance, if a person owns a home or a business, or has other valuable assets, they could benefit from creating trusts and other means of preserving their assets. Medicaid planning also helps individuals understand and apply for the various levels of Medicaid eligibility. For example, a person who does not meet the full requirements for Medicaid based on their income and resources may have other options available to them, such as covering the cost of their care through waivers or other programs. Furthermore, Medicaid planning involves understanding complex legal and financial documents. It is therefore important to work with an experienced elder law attorney or financial advisor to ensure that all of the necessary paperwork is completed accurately and in a timely manner. They can help explain the details of the Medicaid application process and provide advice and resources to help individuals navigate the process.

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