“Three Ways to Protect Yourself from the Cost of Nursing Home Care,” by Jeffrey Marshall, Marshall, Parker & Weber, LLC
“This article will discuss three techniques that elder law attorneys use to help families protect themselves against the financial cost of long-term care once the need for that care has arisen. These strategies are just part of the planning arsenal that is available. They can be used in a time of crisis. But, of course, it is best to plan early, rather than wait for a crisis to happen. …
- Using assets to pay off debts and expenses …
- Buying assets that are not counted by Medicaid …
- Converting countable assets to income …
“This article lists just a few of the planning strategies available to you under the Medicaid statute and regulations.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Read this article! It’s a perfect example of the widespread Medicaid planning that I warned in How to Fix Long-Term Care Financing (2017) must be stopped before private LTC insurance can succeed. Note the lack of any reference to Medicaid’s serious access and quality downsides. Note too the only mention of private insurance is to discourage it. This author was just named Best Lawyers® 2020 “Lawyer of the Year” in the field of Elder Law. He has four offices dishing out such advice throughout Pennsylvania. 4500 other members of the National Academy of Elder Law Attorneys are doing the same throughout the USA. Please help the Center for LTC Reform fight this practice and encourage the LTCI carriers and distributors you represent to do the same.
