Elder law is the legal specialty that focuses on issues that are of particular interest to senior citizens.
At the present time, the baby boomer generation is reaching retirement age. About 10,000 people are applying for Social Security every day. As a result, elder law issues are very relevant to a wide range of Americans during our currently era.
According to the United States Department of Health and Human Services, 70 percent of people who are turning 65 will need long-term care eventually. Most seniors will qualify for Medicare, but Medicare does not pay for long-term care.
Long-term care is very expensive. We practice law in the state of Pennsylvania. The median annual cost for a private room in a nursing home in our state exceeds $115,000. It is not uncommon for people to spend multiple years in nursing homes.
Medicaid is a government health insurance program that will pay for long-term care. Because it is a need-based program, there are income and asset limits. It takes careful planning to divest yourself of assets with future Medicaid eligibility in mind, because there is a five-year look-back.
You are penalized and your eligibility is delayed if you give away assets within five years of applying for Medicaid. As a result, advance planning is key.
Free Report on Medicaid Planning
We have prepared a special report that takes an in-depth look at Medicaid planning. To download your copy of the report, click this link and follow the simple instructions: Medicaid Planning Report.
Free Southampton Elder Law and Medicaid Planning Consultation
If you would like to discuss Medicaid planning with a licensed elder law attorney, we can help. We offer free consultations to our neighbors in the Bucks County, PA area, and you can request an appointment through this website.