A common concern among seniors is how to keep retirement savings from being spent on nursing home or long-term care costs.  In addition, seniors want to keep their home or other real estate in the family and are concerned about the possibility of “losing their home to the government.” This fear is legitimate and is due to the prospect of having to qualify for Medicaid, which has stringent requirements for the amount of assets that one can have before a person is eligible to receive Medicaid benefits.

Medicaid

Medicaid is the nation’s major public health insurance program for low-income Americans providing health care and long-term care services to more than 52 million people. In Ohio, Medicaid provides health care services to over two million residents and pays for the majority of long-term care provided in the state.

How do I qualify for Medicaid to pay for long-term care services in Ohio?

To qualify for Ohio Medicaid, you must meet certain eligibility criteria – such as U.S. citizenship, age and Ohio residency. You must also meet income and asset limits.  These asset limits will be different for individuals who own long-term care partnership policies.

The calculations that the Ohio Department of Job and Family Services uses to determine Medicaid eligibility are very stringent.  An improper transfer of money or property to protect your assets can immediately disqualify you from receiving Medicaid benefits.  It is for that reason why we encourage our clients to seek legal counsel before making any transfers for asset protection purposes.

Does Medicare Cover Long-Term Care?

Although Medicare may pay for short periods of care (Medicare pays about 10% of the nation’s total nursing home bills) you should not depend on Medicare to pay your long-term care bills.

(Source: Ohio Department of Insurance, Ohio Shopper’s Guide Series: Long-Term Care Insurance)

For more information, call 1-800-324-8680 / TTY 1-800-292-3572 or contact your local county department of job and family services. You can also visit www.jfs.ohio.gov/ohp

Can A Person Change Their Medicare Plan?

If you don’t love your Medicare plan or need to change for whatever reason, when are you allowed to make that change and how do you switch plans?

Many people love their Medicare plans. It offers them the coverage they need for a price they can afford.  But each year, some people look to make a change with their plans.  This isn’t to say that the plans are bad, it just makes sense for that person. There are plenty of reasons why you may be interested in making a change.  In fact, you should at least review your Medicare plan each year to make sure it still fits your needs.  Your medical needs could change.  You may find a less expensive plan. You could move, necessitating a new plan network.  Whatever your reason, knowing when you’re permitted to change your plan and how to go about it allows you to ensure you’re getting the benefits that best fit your needs…  Continue Reading

Can A Person Get Extra Help For Medicare Part D?

Let’s face it, the last few years have been especially difficult for many.  If you, a loved one, or a friend have limited financial resources and need assistance with coverage for prescription drugs, you may be able to get Extra Help with Medicare!

We all need a little help sometimes.  There’s no shame in that.  This is especially true when it comes to something as important as your health care.  Being able to afford your prescription medications is a major factor in this, as they can go a long way toward maintaining your health and any conditions you may have.  If you have limited resources, Original Medicare can help cover many of your medical costs, but what about those prescriptions? Luckily, you can get extra help… Continue Reading