Asset Protection Planning

Asset Protection Planning

It is possible to qualify for Medicaid benefits and still save some of your assets for your family. You don’t have to go broke in a nursing home. Nursing home bills for your elderly loved one can pile up quickly and exhaust your savings, leaving you and your family with nothing — or worse, with debts. Medicaid benefits can ease the stress of paying nursing home bills, but many people assume they are not eligible.

Dickman Reason Bogigian & White knows the eligibility requirements for Indiana’s Medicaid programs. Dickman Reason Bogigian & White provides personal attention and straight talk about how you may qualify for Medicaid and what you can expect from the program.

Who needs and who is eligible for Medicaid?

If you have a family member in a nursing home who requires regular medical attention, he or she may qualify for Medicaid benefits. To be eligible for Medicaid in Indiana, you must be in a nursing home, earn less than approximately $2000 in monthly income and have less than approximately $2000 in assets or resources on any one day of the month.

Medicaid should cover:
  • Doctor visits
  • Hospital visits
  • Surgeries
  • Prescription costs
  • Dental care
  • Vision care
  • Mental health care
  • Family planning

Medicaid planning is a strategy that allows you to exempt some of your assets so you can be eligible for Medicaid. It can also help you protect your assets from nursing home bills through an irrevocable trust and ensure those assets remain available for your family. Dickman Reason Bogigian & White can advise you on measures you can take to help your loved one qualify for assistance.