Allentown, PA Medicaid Planning Lawyer

When most people think of saving for retirement, they have the average costs of living and travel factored in, but they don’t think about the biggest potential expense they could incur: the cost of long-term care. Seniors in today’s world are living longer and longer, which means that more seniors are entering nursing homes or assisted living facilities. Because the costs of long-term care in Pennsylvania are so high, planning ahead and getting financial assistance via Medicaid is the best option for most people. However, planning for and applying for Medicaid can be a confusing and time-consuming process. Our Allentown Medicaid planning lawyer can work with you to navigate and simplify the process so you and your family can have peace of mind! Call today to book your free consultation and learn how our firm can serve you.

Why Is Medicaid Planning Necessary?

Many Pennsylvania seniors and their families aren’t familiar with the nuances of long-term care costs and coverage. The average person doesn’t realize that….

1. The average cost of a private or semi-private room in a nursing home in Pennsylvania is $10,000 annually; it can be much higher in some cases.
2. According to recent estimates, about 20% of today’s 65 year-olds will need long-term care support for longer than 5 years; the majority of today’s 65 year-olds have about a 70% chance of needing some type of long-term care support in their remaining lifetime.
3. Medicare does not cover the costs of long-term care, and most private health insurance plans don’t either.

To put it plainly, if you are 65 or older, there is a real possibility that you will require long-term care someday, but if you are like most seniors living in or near Allentown, you may not be able to afford it. The scary thing is that most seniors don’t realize this until it’s too late to do anything about it. Without another option and the help of an Allentown Medicaid planning lawyer, the nursing home will eat up all of your life savings and the inheritance you had planned to leave your children and grandchildren, or put a heavy financial burden on your family.

Medicaid, a federal government health assistance program, can help you pay for a significant portion of the costs of long-term care, but there are strict eligibility requirements. In Pennsylvania, for example, (as of 2022) if one earns $2,523 per month, they are allowed to keep up to $2,400 in resources. However, if your income is below the $2,523 per month, you are allowed to keep up to $8,000. If you have more than these assets limits, you may be required to liquidate assets and pay for nursing home care yourself, until you are below the asset limits.  You can’t just give all your money to your kids, either…Medicaid considers gifts, donations, and transfers to a trust made within the last 5 years from the date you apply, and you will still need funds for items that Medicaid doesn’t cover.

That’s where Medicaid planning comes in. Medicaid planning is essentially a way of transferring ownership of your assets out of your name before that 5 year look-back period begins, while still being able to control your wealth, so you can qualify for Medicaid and still leave an ample legacy behind for those you love most!

What Can Our Allentown Medicaid Planning Lawyer Do For You?

Working with an attorney can make Medicaid planning easier, less stressful, and more effective. Because the Medicaid application process can be complicated, and any mistakes made along the way can jeopardize your eligibility or cause you to have to start over from the beginning, it’s important to have the guidance of a legal professional who is knowledgeable about Medicaid and asset protection laws. Attorney Joshua N. Daly, our lead Allentown Medicaid planning lawyer, can take you every step of the way through the process. He will…

• Take the time to listen to you and get to know you so he can provide personalized advice
• Review a list of your income sources and assets so he is familiar with your financial situation
• Explain your legal options
• Answer all of your questions about Medicaid planning and long-term care
• Come up with a plan of action to shield your assets using a variety of legal tools
• Gather and complete the paperwork required for your Medicaid application
• Appeal rejections if you are denied
• And more!

Why Choose Daly Law Offices

Attorney Joshua N. Daly has 15 years of experience leading Pennsylvania seniors and their families through the Medicaid planning process. His skill and reputation for excellence has earned him membership of the prestigious National Academy of Elder Law Attorneys (NAELA), Pennsylvania Association of Elder Law Attorneys (PA l ELA), and Estate Planning Council of the Lehigh Valley, in addition to being awarded the Lawyers of Distinction 2022. When you work with our Allentown Medicaid planning lawyer, you will receive an unparalleled level of dedicated attention and quality service. Daly Law Offices provides practical solutions, professional integrity, and peace of mind for all of our clients! We’re focused on you and helping you live out your golden years the way you deserve. Call today to book your free consultation and discover more about how we can assist you with Medicaid planning!