Page 36 - Amarillo Senior Link Magazine 2020 Spring - Online Magazine

HONORING SENIORS
edicaid’s long term care
benefits have become
Mcritical for the care of the
elderly and disabled. [Medicaid
for the Elderly and People with
Disabilities (MEPD) is administered
by the Texas Health and Human
Services Commission (HHSC). In
this article, Medicaid specifically
refers to MEPD.] In Lubbock,
nursing home care runs about
$5,500 per month. Because the
Medicaid assistance is so valuable
and taxpayer funded, an applicant
must show specific medical need
and meet stringent income and
asset limits. Those requirements
have led to an abundance of rules
and layers of complexity once
all the statutory contingencies,
exceptions, and exemptions are
factored in. Unfortunately, few
care givers, social workers, medical
professionals, or even nursing home
officials know much more than
the basic rules. But an applicant
may need care desperately, and
while most people just want to
help, a nefarious few will see an
opportunity to take advantage;
it is no wonder that rumors,
misunderstandings, and outright
fraud dominate what people think
they know about Medicaid.
36 Amarillo Senior Link
Some Dos
and Don’ts
of Long Term
Care Medicaid
By Lee Franks
Before offering some dos and don’ts practice in this area commonly offer
regarding nursing home Medicaid, a free consultation of a half hour or
please note: This article does not more. Even if one or more sessions
include actionable, legal advice with the attorney costs a few
to anyone, and it establishes an hundred dollars, keep in mind that
attorney-client relationship with no nursing care costs $5,500 per month.
one. As always, seek the counsel of
a knowledgeable attorney to see if
any part of this article applies to you
or yours. Knowledge comes
Dos (with the advice of a with a price, but
knowledgeable attorney)
Basic estate planning includes a ignorance can
Will, Statutory Durable Power
of Attorney, Medical Power of cost far more.
Attorney, HIPAA Release and
Authorization, and Directive
to Physicians and Family or
Surrogates. Every one of these
documents, when done with long Life insurance causes more trouble
term care in mind, has specific value with Medicaid applications than
in a Medicaid planning context. just about anything else, besides
giving money or property away
Seek the counsel of a knowledgeable (see below), due to the cash value
attorney to learn about Medicaid of a life insurance policy. The
from someone who knows. person applying for Medicaid, or
Financial planning may have a role, that person’s agent, usually under
but Medicaid planning presents a deadline, has to work with the
many legal issues, and ethical rules insurance company to obtain
keep most attorneys from profiting information on a policy, surrender
from the financial transactions that a policy, or take a loan against a
they may advise. Attorneys who policy. If the insurance company
has received a power of attorney in