Medicaid Planning support in New York
The best time to begin Medicaid planning is now, well before you need long-term care and find yourself unable to self-pay yet also unable to qualify for Medicaid. Schedule your consultation today, before you end up unnecessarily spending large portions of your life savings for your care.
Over a Decade of
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New York State Bar Association (NYSBA) Member
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Elder Law
Work with us for comprehensive Medicaid Planning
Planning for future long-term care needs is one of the most important steps you can take. At Abraham Mazloumi & Associates, we help New York residents navigate the complex world of Medicaid planning and eligibility.
The cost of long-term care, whether provided at home or in a nursing facility, has risen to a point where only the wealthy can afford it without assistance. For most individuals requiring long-term care, Medicaid becomes the primary means to cover home health aides or nursing home care.
However, qualifying for Medicaid can be complex, and even a small error could result in a denial of coverage. Without proper planning and expert guidance, you may find yourself exhausting a significant portion of your savings before qualifying for Medicaid assistance.
At our firm, we specialize in helping you (or your loved one) navigate the often-complicated process of Medicaid eligibility for home care or nursing home services. This process requires a deep understanding of the law, and relying on a general practitioner or social worker for assistance could lead to costly mistakes. Let us help you through the complexities of Medicaid planning, ensuring your needs are properly addressed.
Why Medicaid planning is crucial
Medicare’s limited coverage
Medicare covers your medical needs, but does not provide long-term coverage for assistance with activities such as bathing, dressing, walking, or toileting. Medicaid, on the other hand, can cover costs for such activities, but qualifying requires careful planning.
Income and resource limits
To qualify for Medicaid benefits, your income and resources must fall below Medicaid’s strict income and resource limits. Without proper planning, you could jeopardize your eligibility. Effective planning can help protect your assets while maintaining your eligibility for Medicaid benefits.
Look back period and penalties
Medicaid’s look back period penalizes the gifting or uncompensated transfer of assets made before applying for benefits. In New York State, there is a 5-year look back period for Nursing Home Medicaid. There is currently no look back period for Home Care Medicaid – but a 30-month look back may be implemented for Community Medicaid in 2025. Early Medicaid planning is essential to avoid penalties and ensure eligibility.
Estate recovery
Medicaid can seek reimbursement from your estate after your death for long-term care services received, potentially jeopardizing your home and other assets.
Proper Estate Planning can help avoid estate recovery through the use of irrevocable trusts or other strategies, and prevent assets from being included in the estate recovery process after death.
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Medicaid Planning strategies
Pooled Income Trusts
If your “countable” income exceeds Medicaid’s income limits, a Pooled Income Trust (PIT) may enable you to keep your existing income, and qualify for Medicaid despite being over the income limit.
However, in order for Medicaid to “ignore” the income you place into a pooled trust account, you need to be deemed “disabled” by Medicaid. Qualifying as “disabled” is often achievable, as age-related conditions frequently meet Medicaid’s disability criteria.
We guide you through establishing and funding your Pooled Income Trust, as well as applying for the required Medicaid disability determination.
Medicaid Asset Protection Trusts
A Medicaid Asset Protection Trust (MAPT) serves two critical functions:
1) Protecting your assets during your lifetime
2) Shielding them from Medicaid estate recovery after your death
This is particularly important for protecting your home. Without proper planning, Medicaid may place a lien on your house during your lifetime or seek reimbursement from your estate after your passing.
At Abraham Mazloumi & Associates, we carefully evaluate your situation to determine if a MAPT aligns with your goals. We’ll guide you through which assets should be placed in the trust, how you can maintain access to your home, when the trust should be established, and how the trust can help protect against future Medicaid claims.
Our comprehensive approach
We handle every aspect of your Medicaid planning in-house, including:
- Designing a customized Medicaid Planning strategy
- Implementing your Medicaid Planning strategy
- Preparing all legal documents (which only licensed attorneys can do)
- Establishing a Pooled Income Trust, if needed
- Assisting with disability determination, when required
- Obtaining Medicaid eligibility and benefits
- Coordinating Home Health Care services
Medicaid Planning services in New York
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Why you should start planning today
Planning ahead helps you avoid penalties that could delay your eligibility when you need care most. This is especially crucial in New York because:
- There is a 5-year look back period for Nursing Home Medicaid that penalizes gifts or uncompensated asset transfers made during that time.
- New York State is set to implement a 30-month look back period for Community (Home Care) Medicaid in 2025. Planning now could help you avoid penalties and restrictions.