Texas City, TX Medicaid Planning Lawyer

Most people aren’t aware of this, but the cost of having to enter a nursing home in Texas is astronomical, and it isn’t covered by Medicare or by most private health insurances. That’s why – especially if you’re nearing retirement – planning ahead now to protect your life savings later is critical! No matter how healthy you are at the present moment, no one can predict the future, and most seniors will need some form of assisted living or nursing home care in the final decades of their lives. 

A legal process known as Medicaid planning can help you qualify for government aid and cover these expenses before it’s too late. Call our experienced Texas City Medicaid planning lawyer today to schedule a free consultation and learn more about what we can do to give you peace of mind! 

What is Medicaid?

Medicaid is a form of government financial assistance that is designed to help low-income individuals or individuals with special needs obtain the healthcare they need. Because it is a government program made for this group, you have to meet strict income requirements and undergo a lengthy application process in order to receive coverage. 

What is Medicaid planning?

Medicaid planning is essentially a way of legally shielding your assets so that they don’t count against you when you go to apply and take away your eligibility. In Texas, the average cost of nursing home care is over $80 grand annually. That’s much more than the average senior can afford on a fixed income, especially if you end up needing to stay in a home for several years. You don’t want to use up the inheritance you had planned to leave your kids, or make your family pay for your care, but there aren’t many options except Medicaid – the catch-22, though, is that you might be “too rich” to qualify. 

However, if you can place your assets in a trust, or convert certain assets to different types (nonexempt to exempt), or gift them to your family in a timely manner, then you can get those assets out of your name and qualify. This is a complex endeavor that requires a thorough knowledge of Medicaid laws in Texas and of estate planning procedures, which is why you need our Texas City Medicaid planning lawyer to guide you through the process. Attorney Michelle E. Murphy can explain your options, take care of the paperwork for you, and ultimately protect your hard-earned money from being lost to assisted living. 

When should Medicaid planning happen?

Because many seniors aren’t aware that Medicaid planning is something they need to do, they wait until they need to enter a nursing home to look into it, but by this point it may be too late to effectively guard their assets. This is because Medicaid has a 5-year “look back” period, where it considers all asset transfers (including gift and trust creations) to count towards your eligibility. That’s why the best time to start planning ahead and securing your wealth is now, long before you need care. Our firm can assist with crisis planning but your options will be more limited the longer you wait. 

Why choose our Texas City Medicaid planning lawyer?

Our lead attorney, Michelle E. Murphy, has been helping seniors with Medicaid and other related legal issues for over 20 years. Her experience can give you confidence that no matter what the future holds, your legacy will remain intact ! She will take the time to talk about your situation with you, go over all of your options, and provide sound advice that you can trust. She will handle not only the planning part, but also the application part for you so you don’t have to worry about anything. Don’t wait any longer. Call today to schedule your free consultation and get started!