John Hoffman Law Office LLC Can Help You With Medicaid Planning, Estate Planning, and Elder Law
Akron, United States - June 7, 2023 / John Hoffman Law Office LLC /
Medicaid planning is a way to ensure you are set up down the road when it comes time to be placed in a long-term care facility. Medicaid planning in Akron, OH, works through the Medicaid application process and is a program that is controlled by the state and federal government, to ensure health benefits are being provided to those who need it. If you’re unsure how to get started, John Hoffman Law Office LLC has experts ready to help you prepare for your future.
What Is Long-Term Care?
Long-term care consists of services that are made to meet your health needs during a certain period when you can no longer do daily activities on your own. When you suffer from a health problem such as a stroke or old age, you will likely need to have someone give you long-term care, whether that be a family member, and aid, or in a facility like a nursing home or an adult day care center.
Long-Term Care Costs
Because long-term care is already extremely expensive in America and the costs will only go up, you must start medicaid planning now. Medicaid planning now can make or break your bank account when it comes time to seek long-term care. Did you know that long-term care can easily cost ten thousand dollars a month? That is why you want to make sure you are set up with a medicaid plan.
Medicaid Eligibility and Countable vs. Non-Countable Income
To be eligible for medicaid, in addition to being medically eligible, you must be financially eligible as well. In the state of Ohio, your income must be at or under $20,120 a year if you live alone. If you have a family of four, your income can’t exceed $41,400. It’s important to understand that certain assets could count towards your financial resources. Non-countable assets include:
- Your primary residence
- Household goods: clothing, items of personal care, jewelry, recreational items, musical instruments, and hobby items.
- Motor vehicles
- Burial spaces and reserves
- Life insurance policies
- Property essential to self-support
Now that you know what is not counted as income, you may be wondering what is counted as income. They include any wages from employment, alimony, pension payments, Social Security Disability Income, Social Security Income, stock dividends, and IRA withdrawals.
Let John Hoffman Law Office LLC Help You
If you are confused about medicaid planning in Akron, OH, our team is led by John Hoffman, our highly educated and experienced attorney, and he’s here to help! We can walk you through the process and help you determine if you meet medicaid eligibility requirements and if your assets are countable as income. Additionally, we can help you with estate planning, and elder law, and answer any questions you may have. Whether you’re considering how you will afford long-term care or if you will have enough money to last you after you retire, John Hoffman is your guy to provide you with advice and a legal plan.
Contact Information:
John Hoffman Law Office LLC
137 Heritage Woods Dr Suite 210
Akron, OH 44321
United States
Contact John Hoffman Law Office LLC
(330) 551-5213
https://johnhoffmanlawoffice.com/
