Medicaid planning can protect hard earned assets if you or a spouse would need long-term care.
A lifetime of work to accumulate assets can be spent on long-term care. If you are planning for the possibility of you or a love one spending time in a nursing home or long-term care facility, proper Medicaid planning can limit the amount of money you would need to spend on health care. At ElderCare of RI we can help with Medicaid planning, determining the eligibility for Medicaid benefits, and determining if you meet income and asset eligibility tests in order to qualify for Medicaid
Medicaid is a state and federal entitlement program administered on the state level. Eligibility and the benefits vary among states. Medicaid coverage often exceeds even the benefits provided by Medicare. And, while the benefits are not the same for all states, the many medical costs paid by medicaid may include:
- Hospital costs
- Nursing home care
- Doctor services
- Home health care services
- Physical therapy
- Other
Key ElderCare Services
- Financial, tax and routine bookkeeping services
- Advanced planning
- Long-term care insurance
- Social security and veterans benefits
- Medicare and Medicaid
- Protecting assets
- Bill Paying
- Receive and deposit cash receipts
- Submit claims to insurance companies
- Confirm accuracy of provider bills
- Protect elderly from predators by controlling checkbook and other assets
.
- Ensure expected revenues are received
- Income tax planning and preparation
- Prepare trust and gift tax returns
- Estate tax planning and return preparation
- Prepare employment tax returns for caregivers and household help
- Evaluate alternative costs of housing
- Review and analyze financial transactions and test for adherence to established criteria
- Review investments and trust activity and test for adherence to established criteria
- Verify third-party calculations, such as pension payments, insurance payments, and other annuity payments
- Insurance planning
ElderCare of RI, LLC we care about elder care services. We are located in Warwick, Rhode Island ( RI ).