Medicaid Spend Down
What Others Don't Want You To Know
Good Medicaid Planning
Nursing home costs have skyrocketed over the years - now averaging as much as $97,500 a year.
Many adult children caring for their parents are concerned that they will have to spend down their savings to qualify for Medicaid nursing home care.
This just isn't true!
Don't you want to keep as many assets as you can - and enjoy a more comfortable retirement, keep your current lifestyle, and enjoy life's benefits that you deserve?
In our FREE Guide, you’re about to learn proven strategies that will allow you to save your home (under certain conditions) and protect much of your life savings from creditors and thus avoid devastating healthcare costs.
Can I Really Hang on to My Assets?
Yes, there are legal ways to do this! Thousands of people in your state have been doing this and have achieved the comfortable retirement that they sought for so long. And yet nursing homes don't want you to know these techniques. (They want to get every penny they can.)
I know what you may be thinking - this can't be true. Is this within legal bounds for where I live? Why haven't I heard about this before?
You might have these questions:
- What about Medicaid's five-year look back period?
- How can I avoid Medicaid Recovery?
- Can I just give my assets away?
- How can I save the house for my spouse?
- How will all this affect my children's inheritance?
Concerning the look back period - yes, the Deficit Reduction Act of 2005 pushed the lookback period for asset transfers from three to five years. But you can retain what you have (or much of it) if you take the right steps.
The other questions are answered in our FREE Guide.
Start Your Medicaid Planning
This FREE guide is about Medicaid Asset Protection. You'll discover:
- Our 3 Proven Strategies For Preserving Your Home & Life Savings
- 10 Signs Your Home and Money are at Risk
- The 3 Biggest Retirement Mistakes Most People Make
- The 4 Ways To Pay For Long Term Care
- Why you Need a Medicaid Planner
And here's why you don't want to make a mistake ...
5 Dangers of Poor Medicaid Planning
If you choose a financial guide who does not specialize in Medicaid Planning, you run the risk of making costly mistakes. Did you know the five most common problems of not making the proper plans for Medicaid?
- You will lose all of your hard-earned assets
- You must do "crisis planning" instead of "pre-planning"
- You won't be able to use your money to provide for yourself or your loved ones
- Your finances could be upended by a catastrophic illness
- You are not financially prepared for the death of your spouse
Act now - get your FREE Guide:
Click above for our FREE 24-page guide, "How to Qualify for Nursing Home Benefits Without Spending Down Your Life Savings."
Now, how am I qualified to help you...?
I'm Jerry Schmitt, and Here's Why You Should Believe Me
Let me help you protect your assets - Jerry Schmitt, CFP
800-213-8469
My name is Jerry Schmitt, and I am a Financial Planner in the Chicago area as well as a Veterans Administration Accredited Claims Agent. I am a Qualified Medicaid Planner, an expert on Veteran's Benefits, Medicaid, and Long-Term Care Payment Strategies. I work with clients all over the country.
I'm married with four children and live in New Lenox, IL.
I have helped many adult children of seniors and spouses find a way to protect their loved ones' hard-earned assets and lifetime savings in the Chicago and downstate area. Read my bio.
Overall, our team of lawyers have a vast amount of experience in asset protection. We will make sure that you get all that you legally deserve.
Some typical examples of how we've helped . . .
Assets Too High for John and Mary
John and Mary Smith were age 85 and 73 respectively. Mary was at the time in a nursing home. Their total countable assets were $200,000.
They were told by a friend that they had to spend down $88,400 to qualify for Medicaid. After talking with us, however, we were able to get Mary qualified for Medicaid immediately versus spending down $88,400 for the nursing home. This saved the estate $88,400.
Sue Roberts - Assets Dwindling
Sue Roberts, age 75, was also living in a nursing home. But her savings were dwindling fast. Her total countable assets were $213,000. She was told by the nursing home to get in touch with them when her assets were six months away from being completely depleted.
We told her that instead of spending down $211,000 to qualify, we would put into place a plan to make her eligible for Medicaid in just 14 months. Thus, $124,500 was prevented from ever having to be spent at the nursing home.
Still have questions ....?
Feel Uneasy About Using Medicaid?
We understand the feelings you may have about relying on public funds for your nursing home care. You or your loved one have probably worked hard all your life ... you have been independent ... you scrimped and saved. But now you're faced with this huge need. It just doesn't seem fair.
And yet ...
Public funds pay the bills of way over half of all nursing home residents. Here is some interesting data recently found online showing nationally who pays for long-term care costs:
- 43% MEDICAID
- 25% OUT OF POCKET
- 14% MEDICARE
- 10% PRIVATE INSURANCE
- 8% OTHER
As you can see, Medicaid pays the largest percentage of long-term care costs by almost a 2 to 1 margin.
And beware of this . . .
Danger Lurking in Sudden Health Care Costs
If you're not facing the cost of nursing home care right now, you could be very suddenly. Imagine your life savings, your home and your other family assets being wiped out virtually overnight.
It’s tragic but true. A sudden fall … a heart attack … a stroke … an unexpected illness … or your elderly parent’s frailty and disability brought about by advanced age … can bring financial ruin to you and your family. Nursing home expenses could bankrupt all but the most affluent families!
As I mentioned, the skyrocketing costs of nursing home care could devastate you financially. Unless you know how to protect your assets.
Whether your senior is gradually becoming less able to live on their own, or a sudden catastrophe occurs, it's important to begin now to become qualified for Medicaid nursing care.
It's important that you work with a Qualified Medicaid Planner like myself, and avoid practitioners who may give you the wrong advice and entangle you in legal problems that you did not want.
Make plans now to begin your Medicaid Qualification Process. Start by getting our free report, "How to Qualify for Nursing Home Benefits Without Spending Down Your Life Savings."
Call Jerry today 800-213-8469
jerryschmitt2010@comcast.net
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