As we age, planning for the future becomes increasingly important, especially for our long-term care needs. But the ever-rising cost of long-term care expenses can be overwhelming, draining your savings and, worse, making you feel like a burden on the ones you love most.
At Hammond Law Group, we understand the importance of Medicaid pre-planning and are dedicated to helping families navigate this process well in advance. Our Colorado Springs Medicaid pre-planning attorney is here to help you maximize your eligibility for benefits while reducing the impact on your assets.
We recommend starting the Medicaid pre-planning process at least five years before you anticipate needing long-term care. By planning ahead, you’ll have more options available to protect your assets and ensure a comfortable future.
We know planning for the future can be overwhelming, but it doesn’t have to be. Whether creating a comprehensive estate plan or navigating the Medicaid pre-planning process, we are committed to providing the utmost care and attention. Contact us today to start planning for a secure and comfortable future.
Qualifying for Medicaid in Colorado Springs
In Colorado Springs, the Medicaid program is administered by the Colorado Department of Health Care Policy and Financing (HCPF).
To qualify for Medicaid, you must be a Colorado resident and considered low-income. You must also be one of the following:
- Pregnant
- Responsible for a minor 18 years or younger
- Blind
- Have a disability or a family member in your household with a disability
- Be 65 or older
You must also meet certain income requirements. In 2023, a single person’s annual household income limit is $19,392, and $39,900 for a family of four. Because of the program’s strict asset and income limits, it may be more difficult for seniors in need to receive the care they need without sacrificing their financial security.
At Hammond Law Group, our Medicaid planning attorneys can help you employ legal strategies that can help you qualify. With proper planning, you can save hundreds of thousands of dollars, allowing you to leave assets to your children while still qualifying for Medicaid.
Why Long-Term Care Planning is Important
Are you worried about how to afford long-term care for yourself or a loved one? As you age, the possibility of needing assistance with daily activities like bathing and dressing increases. This is where long-term care planning comes in.
An elder law attorney can help you navigate the complexities of qualifying for Medicaid to cover your long-term care needs.
Here are three reasons why long-term care planning is crucial:
- Protect Your Assets: Without proper planning, the cost of long-term care can deplete your savings and leave nothing for your heirs. A Medicaid planning attorney can help you protect your assets by creating a plan that meets both your financial and healthcare needs.
- Qualify for Medicaid: Medicaid is a government-funded program that provides healthcare coverage to individuals with limited income and assets. However, qualifying for Medicaid can be difficult without the guidance of an experienced attorney who knows the ins and outs of this system.
- Peace of Mind: With proper elder care planning, you can know that you or your loved one will receive quality long-term care without worrying about the financial burden it may bring.
If you or someone you know needs assistance with long-term care planning, don’t hesitate to contact a Medicaid planning attorney today. They can provide valuable guidance on protecting assets while ensuring you receive the best possible care.
How a Medicaid Pre-Planning Attorney Can Help
You may think that planning for Medicaid is just another task on your never-ending to-do list, but hiring a Medicaid planning attorney could save you thousands of dollars in the long run.
Here are four ways a Medicaid planning attorney can help you:
- Asset protection: Medicaid planning attorneys can help clients protect their assets from being depleted by long-term care costs. This may involve creating a trust or transferring assets to a spouse or other family member.
- Eligibility determination: Medicaid planning attorneys can help clients determine if they are eligible for Medicaid benefits and assist with the application process.
- Estate planning: Medicaid planning attorneys can help clients create an estate plan that takes into account their long-term care needs and ensures that their assets are distributed according to their wishes.
- Advocacy: Medicaid planning attorneys can advocate for clients who are facing challenges with Medicaid eligibility or benefits, such as denial of coverage or inadequate services.
Don’t let the stress and confusion of Medicaid planning overwhelm you. Let our team at Hammond Law Group guide you through the process with ease, saving you time, and money, and providing peace of mind along the way.
With more than 18 years in business and being 100% estate planning focused, we have the experience and knowledge to help you with your Medicaid planning needs.
Hire Hammond Law Group for Compassionate Medicaid Planning in Colorado Springs
Looking for a reliable Medicaid pre-planning attorney in the Colorado Springs or Denver area? Look no further than Hammond Law Group. Our law firm is dedicated to helping you plan for Medicaid long before you actually need it.
With multiple attorneys on staff and a 100% satisfaction guarantee, you can trust that our team will provide experienced legal assistance for all your Medicaid planning needs. Contact us today to learn more about how we can help you plan for the future.
