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Medicaid NY FAQs
What do I need to apply for Medicaid?
When you apply for Medicaid, federal and state agencies are going to look over your income and assets to determine eligibility. You’ll need to gather proof of income, asset statements, and statements on other benefits like SSI. We work with you one-on-one to come up with a personalized list of every document you’ll need to file.
What is the Medicaid Income Eligibility?
The income limits vary from state to state and annually. If your income is greater than this, you can use a variety of customized strategies to still qualify for Medicaid. Contact us to learn more about income limits and receive a free consultation.
What is a Medicaid Trust?
A Pooled Income Trust is a valuable tool used to shelter monthly surplus income. It allows the client to satisfy their monthly spend down requirement and continue to use their income for their living expenses. The money in the trust can then be used to pay recurring bills for the beneficiary such as utilities, credit card charges, phone bills, and more. Our planning page has more information on the many financial options available. Contact us to begin a conversation and create a personalized solution.
What are Medicaid Benefits?
Medicaid was designed to cover the costs of long-term care, at-home care, doctor’s visits, and hospital visits. Unlike Medicare, it does not cover the costs of health insurance and prescriptions.
Do Medicaid patients receive the same treatment as private pay?
Yes. It’s a common misconception that Medicaid patients are treated differently than private pay patients. There are many state and federal laws in place to ensure people receive identical care.
75% of long-term care patients are paid for by Medicaid, with only 25% being private pay. In fact, it is by law that the only people in the facility who know how your treatments are covered is the administrative office. Nowhere on any patients’ chart does it say how they are paying, so everyone is treated in the same way.
What is Medicaid Pending Home Care?
Under certain circumstances, your loved one can receive home care treatments at no cost before they are approved for Medicaid. Talk with your Medicaid planner to see if this is the right option for you. Contact us to learn more about how to apply for Medicaid in New York today.
Concerned about Elder Fraud?
Elder fraud is a real and serious threat. Stay informed and educated on the topic by checking out the 2022 FBI Fraud Report located here.
We help you navigate the Medicaid spend down
While it is true that New York has Medicaid income eligibility limits, it’s far from the only way to qualify for Medicaid. You don’t have to spend down all of your assets. There are many ways to restructure and reorganize your money and assets that allow you to
1) hold on to some legacy
2) pay for your bills and care for loved ones at home, and
3) pay for extra treatments to improve your quality of life.
Our financial planning page has more information on what you can do to save money.
What’s the difference in services between a Medicaid Planner and an Eldercare attorney?
Medicaid Planners are designed for the average American to plan, file, and secure Medicaid. We use our expertise in the common pre-planning strategies to file and secure Medicaid for you. Medicaid Planners also use their expertise in long-term care facilities to guide you through the processes of choosing the best one for your loved one.
Eldercare Attorneys are ideal for people who have more complex legal issues surrounding their senior care. These attorneys are experts in setting up special accounts, durable power of attorney, irrevocable trusts, guardianships, and other issues. If you are unsure which option is best for you, we are happy to help you decide. We have relationships with trusted eldercare attorneys to help when needed.
Contact us and an elder care advocate will answer your Medicaid questions.
Need to Qualify For Medicaid Long-Term Care Benefits?
Work with a Certified Medicaid Planner for the best Chronic Medicaid or Community Medicaid outcome.