When it comes to planning for long-term care, there are a lot of mistakes that people make. These mistakes can cause problems if you have Medicaid or Medicare and want to move into assisted living in Rendon, TX. But even with all the time and effort that goes into planning for a future without work, something critical often gets overlooked—and it could cost you thousands of dollars in Medicaid benefits every year.
Even though assisted living generally isn’t covered by Medicare, most people are eligible for Medicaid benefits once they become ill enough to need help with daily activities like shopping, cooking meals, and keeping their homes clean.
Here are some tips on avoiding these mistakes while still preparing yourself financially to take advantage of this vital resource as soon as possible!
Not Knowing The Process
The first mistake many people make is not knowing the process. You may think you can call your insurance company and tell them you want to put your loved one in an assisted living community, but it doesn’t work like that. There are steps to take, and a lot of paperwork involved before Medicaid will pay for your loved one’s care at an ALF.
You need to start by talking with the social worker at their current nursing home or hospital about their eligibility for Medicaid benefits. They will tell you what type of services they receive there (if any), how often they see doctors, whether or not they have any mental illnesses or other conditions that could affect eligibility, etc. They’ll also send over all relevant medical records so that you can take them with you when applying for benefits elsewhere later on if necessary because some states require proof from previous facilities where someone was receiving treatment before granting permission.
Assuming Medicare And Medicaid Are The Same
You are not alone if you think Medicare and Medicaid are the same. Many people do. However, they are not! Medicare is a government health insurance program that provides coverage to persons over the age of 65 as well as other categories such as those with disabilities and end-stage renal illness. Medicaid is a state-run program that mostly covers low-income individuals who cannot afford health care independently or qualify for Supplemental Security Income (SSI).
The main difference between these two programs is that Medicare does not pay any part of assisted living costs; however, Medicaid does cover assisted living costs for eligible individuals.
Not Consulting With An Attorney
You may think you don’t need to hire a lawyer to help with your Medicaid application, but this is not true. There are many reasons why having legal representation when applying for Medicaid is crucial. One of those reasons is that Medicaid applications are extremely complicated and require meticulous attention to detail for them to be approved by the state. Your attorney can help ensure that all the necessary information is included in your application and that everything has been included while submitting it for review.
Waiting Too Long To Develop A Medicaid Planning Strategy
One of the biggest mistakes you can make when planning Medicaid is waiting too long to develop a Medicaid planning strategy. There are many reasons why people need to develop this type of plan. Still, it’s important to understand that waiting can lead to severe consequences for your family members or friends who depend on you for care.
Conclusion
We hope this guide has helped you understand the mistakes that people make when planning Medicaid for assisted living. It can be a confusing process, but we are here to help! If you have any questions or want more information about how we can help with your situation, please contact us today.
