When it comes to the process of exploring Medicaid (MassHealth) benefits for a loved one who can no longer be cared for without the assistance of governmental programs, it is imperative that families seek out financial guidance from an organization that specializes in Medicaid (MassHealth) planning due to the stringent rules and regulations that surround the various Medicaid programs.
Here is where a comprehensive approach, including a care management evaluation, is important in the planning process. If there is a high likelihood of a rapid decline, potentially resulting in either nursing home placement or excessive home care costs, effective financial planning should consider current as well as potential future out-of-pocket care costs. Financial planning for seniors who are receiving or may receive Eligibility for Medicaid (MassHealth) benefits is dependent on many variables, making it imperative for families to hire financial professionals that limit their practice to Medicaid (MassHealth) planning.
The team at Senior Resource Center, Inc. is prepared to offer financial guidance2 to families who are at any stage in the Medicaid planning process and assist them in protecting as many assets as legally possible while also helping your loved ones achieve the Medicaid benefits they require.
Some of Our Areas of Guidance:
Preemptive estate planning is executing a plan to create legal documents so that a trusted family member or friend can make legal, medical, and financial decisions on your behalf.
Asset protection planning is the process of establishing a legal and financial plan which will protect the hard-earned assets of an individual or family.
Asset preservation planning is the process of establishing an estate plan to protect assets of an individual or family that they have obtained throughout their live(s).
Medicaid (MassHealth) Planning
Medicaid (MassHealth) planning is the process of protecting assets and obtaining benefits in the event of a costly long term nursing home stay or for care and services provided at the home.