Medicaid and Special Needs Planning
What is Medicaid?
Medicaid is joint federal and state program designed to provide medical care to those who can not otherwise afford it as well as providing long term care, including home care and nursing home care, to seniors who need it. Our office concentrates in obtaining Medicaid benefits to New York City and Long Island residents.
Am I Eligible for Medicaid?
Medicaid has certain income and asset limits, which are discussed in this article on qualifying for Medicaid in New York. Even if your assets or income are above the allowances, an elder law attorney at our office can structure a plan to help you qualify.
How Do I Apply for Medicaid?
A Medicaid attorney at The Law Offices of Roman Aminov can help you apply for Medicaid for home care, nursing home care, or doctor/hospital visits. The application process can be lengthy, confusing, and fraught with pitfalls. Allow us to guide you through the process in a professional and expedient manner.
Can Medicaid Take Away My Home?
If you are qualified for Medicaid and own a home, Medicaid can place a lien on your house or against your estate. Through proper planning and the use of Medicaid Trusts, you are able to qualify for Medicaid while protecting your home.
What is a Special Needs Trust?
There are two types of special needs trusts (“SNT”); a first party special needs trust and a third party special needs trust. A first party SNT is funded with the SSI or Medicaid recipients own funds, such as from a settlement, and is subject to a payback requirement. A third party SNT is set up by someone else for the benefit of the recipient. Both types of trusts allow the beneficiary to retain his government benefits while accessing the funds to help him live in dignity. Allow us to advise you on the proper use of special needs trusts to accomplish your goals.
What is a Pooled Income Trust?
A pooled income trust allows you to qualify for Medicaid even if your income is over the monthly allowance ($800 for a single person) while still being able to access your income. This article details how a pooled trust can be used to obtain home care while preserving your income.
Contact our office today at 347-766-2685 to discuss your Medicaid or Special Needs question with an attorney. The consultation is free, the advice is priceless.