Here are some of the common “Medicaid myths” that mislead the public:
MYTH: Only a very few, very poor people ever need Medicaid.
FACT: The overwhelming majority of nursing home residents receive Medicaid. That’s right! Over 70% of nursing home residents right now are getting Medicaid. What about the rest? They’ll be on Medicaid too… in 6-18 months! Think about it… can we all afford $7000-$9000 per month, every month? Most folks can’t and Medicaid is the solution!
MYTH: I have to sell all my stuff and spend all the money on long term care before Medicaid will help!
FACT: You are allowed to keep several kinds of “exempt” assets, including your car, your family home and the stuff inside! Not to mention other items.
MYTH: If I gave anything away in the last 3 years (or 5 years or whatever the time limit is now), my spouse and I are disqualified.
FACT: Not so fast. Some assets can be transferred without penalty under certain circumstances. Find out which legal loopholes do you qualify for!
MYTH: There’s nothing we can do! Now that my spouse needs skilled nursing care, we may as well sign over our life savings, family cottage, homestead and give up!
FACT: There is NO reason for ANY married couple to be paying “private pay rates” for skilled nursing. Using LifePlan™ Crisis techniques, I’ve helped thousands of married couples save millions… almost all of their life savings… not just the small “protected amount”. I can do the same for you.
MYTH: As usual, married folks get all the breaks… I’m single so there’s nothing I can do… I’m the one who has to give up!
FACT: Different LifePlan™ Crisis techniques are available for single people. There is always something we can do to get you the care that you or your loved one needs – without losing your life savings!
MYTH: Today’s LifePlan™ Crisis techniques solve everything! We don’t have to do anything until it’s time for long term care!
FACT: Medicaid rules change all the time and they’re not getting any easier. As Medicaid gets more and more difficult we respond with more advanced Crisis LifePlanning™ strategies, but the best approach is to plan ahead and avoid the crisis altogether. Find our how at the next LifePlan™ Essentials Workshop… click on the button or call us and sign up!
MYTH: My spouse will qualify for Medicaid right away because our prenuptial agreement says that my stuff is mine!
FACT: Pre-nuptial agreements, post-nuptial agreements, and legal separations are all irrelevant for Medicaid purposes.