To protect your family’s savings, it’s important to have a Medicaid Planning strategy in place. Without the right planning, you or your loved one may lose your assets, be denied coverage, or face penalties from Medicaid.
Each Medicaid applicant in Maryland is subject to eligibility requirements, and they must undergo a medical and financial assessment for Medicaid to determine their needs and whether they qualify for benefits.
Medicaid eligibility rules can be complicated, and many seniors don’t know where to begin when they apply for assistance. To receive Medicaid Long Term Care (LTC) benefits in Maryland, a resident must meet certain medical and financial criteria.
The annual median cost of a stay in a private nursing home room is $100,375, according to a recent Genworth Financial report. A home health aide could run $50,336 a year. How can anyone afford that? Medicaid can help in certain situations.