Best Business Attorneys in Doylestown, PA

No, in fact anybody can call himself a Medicaid planner. Often this is a title used by people who are in actuality sales people for financial instruments such as annuities. As elder law attorneys, normally we will try to minimize use of annuities because they are costly and can reduce the monthly benefits. Of course, brokers who sell annuities may not share this concern. In addition, the comprehensive asset preservation plans that we produce typically involve trusts, deeds, and wills. These require specialized legal education and licensing.

They vary by state. You are limited both as an individual and as a couple in the amount you can possess of different types of assets. These include cash, your homestead, personal property, vehicles, cash value life insurance, prepaid funeral contracts and cemetery plots, and income-producing property. There are also limitations on your income in the form of gross income reduced by certain expenses such as an allowance for personal needs, medical insurance premium payments, and conservatorship expenses. In the case of a couple, there are certain allowances for the spouse. And income attributable solely to the spouse is excludable. Please contact us to discuss these limitations, as their application can be quite complex. However, we are very familiar with the way they work and will be happy to explain them to you in light of your own particular situation.

While the mechanics of applying are not difficult, there are challenges and pitfalls in meeting the requirements at the same time one tries to preserve the maximum assets of the person or couple involved. For this reason we urge you to contact us to review your individual needs and to discuss some of the issues you should be aware of. Mistakes can be very costly, and in some cases can have long-term consequences that can drastically alter the outcome of the process.

Medicare is a health care insurance program administered by the states for people aged 65 or older. Younger individuals also may be eligible if they have certain qualified disabilities.

Medicare Part B is insurance that helps pay for medically necessary covered services and supplies including doctor services, outpatient hospital care, and some other medical services.