Medicaid Lawyers in West Seneca, NY
Q: What is Elder Law?
A: Elder Law is the practice of specially trained attorneys who can help you protect your assets in the event of illness and dispose of your assets upon your demise, with a minimum of taxes and problems. Elder Law attorneys address long-term care and estate planning needs of each individual based on his or her unique situation.
Q: What is Medicaid?
A: Medicaid is a federal, state and county program which pays any and all medical costs you may have
IFyou qualify. There are different qualifications for a two person household and a one person household.
Q: What are the income and resource levels in a two person household?
A: The following assets are exempt in a two person household where one needs long term care: (1) personal residence, up to a value of $840,000, (2) other assets with a value not exceeding $74,820 (or one-half of the resources for both of you to a maximum of $120,900), (3) pre-paid funeral and burial for both of you, (4) household furniture, personal effects, jewelry, etc., (5) IRAs, 401(k)s and other qualified plans, provided they are paying out a monthly income, and (6) up to $3,022.50 per month in montly income.
Q: What are the income and resource levels in a one person household?
A: The income and resource limits in a one person household are the following: (1) $14,850 in total asset value, (2) pre-paid funeral, no matter what the amount, and (3) $50.00 per month income (the balance of your income is contributed toward your support).
Q: What if you have assets in excess of the resource levels?
A: If you have assets above those listed, then you must spend those assets down for a legitimate medical expenses and when you reach the above levels, then Medicaid would kick in and pay your medical expenses.
Q: Are adult children responsible for Medicaid bills of their parents?
A: In determining Medicaidd eligibility of an adult, Federal Law does not permit states to use the income or resources of non-spouses. Children are therefore not responsible.
Q: Are well spouses legally responsible for Medicaid expenses of a sick spouse?
A: In New York State, Medicaid is allowed to sue the well spouse for contribution.