Our Medicaid planning consultants are experienced healthcare professionals who know and understand all of the current rules and regulations. Our consulting staff also includes former state employees who worked as caseworkers at Medicaid agencies in Massachusetts and Connecticut.

We work with clients to conduct a careful analysis of their current financial situation and advise them on all available strategies to preserve and protect as many assets as possible in connection with their current caregiving situation. Our analysis involves determining which assets are considered countable assets, non-countable assets and inaccessible assets. After carefully evaluating our client’s complete financial portfolio and considering marital status, income and many other factors and issues, we develop an easy to navigate plan that details each of the steps necessary to preserve assets within the limits of the law.

Our analysis and strategies includes steps to protect the family home. Our checklist includes maximizing the amount of assets that may be kept by the spouse remaining at home, calculating how much in assets can be transferred or "gifted" to children or grandchildren, reviewing other allowable spend down expenses, transferring ownership of bank accounts and insurance policies from one spouse to another, converting assets into income, reviewing insurance policy cash values and other steps, as appropriate.

We believe that a well designed Medicaid plan can provide a certain level of security for the parent or loved one living at home. Ensuring that a financial legacy can be preserved for their children and grandchildren is also paramount.

If you’re paying for nursing home care with private funds or anticipate doing so in the near future, we would strongly suggest that you call our office or send an e-mail to set up an appointment for a consultation as soon as possible.

C A S E  S T U D Y
Our client, a 75 year old married man in excellent health called our office shortly after his 74-year old wife had suffered a major stroke. Unfortunately, the stroke left his wife with permanent left-sided paralysis and other medical complications. It was clear to our client and the healthcare professionals caring for his wife that she would not be able to return home due to her substantial care needs. Our client was very concerned about losing his assets and paying expensive nursing home bills. He and his wife had worked 40 years at a local department store and were very pleased with their savings nest egg. At the time, our client and his wife had approximately $150,000 in several bank accounts and CDs.

After reviewing his financial portfolio, we developed a plan that allowed our client to keep the maximum amount allowed under the law at that time, roughly $89,000. We also advised him about several other strategies to protect the remaining assets. In the end, our client did not pay any money out of pocket for his wife’s nursing home care and all of his assets were preserved. We assisted our client with the Medicaid application, which was approved within 35 days of submission. His wife was later transferred to a nursing home closer to his apartment and she continues to live there today.