The purpose of Medi-Cal consulting is to work with residents of the state of California to help protect your life savings while attaining the benefits you need. Our goal is to reduce, or eliminate, the cost of long-term care facilities for yourself or a family member.
The cost of long-term care services such as rehabilitation center, skilled nursing facilities (SNF) or sub-acute facilities can total $9,000 per month or more.1 Although Medicare may pay rehabilitation or a skilled stay for a short time, it will not pay for long. The maximum period covered for qualifying individuals is 100 days2, however, most families will receive a notice of terminations of Medicare long before those 100 days are up.3
For many this means turning to personal savings – savings that were intended for retirement goals or estate and legacy. Most individuals are unaware they have another option: applying for Long Term Care Medi-Cal which may preserve most, if not all, of their life savings.
Eligibility for Medi-Cal coverage is determined by the total countable assets or the value of non-exempt assets, like savings, investments or cash. If this value is too high, you may be required to spend down assets and pay the full monthly cost of long-term care.4
However, there are a number of financial vehicles that are exempt, and therefore not included in the total value of your assets as determined by Medi-Cal. There are strategies to restructure and preserve your assets correctly that may qualify you to have most, if not all of your long-term care costs covered by Medi-Cal, without depleting your savings or estate.
Once you attain the benefits to which you’re entitled, most or all of the monthly costs for long-term care facilities will be covered.
Despite what you have heard, you do not have to deplete your life savings to qualify for Long Term Medi-Cal. The process of Medi-Cal planning is to properly protect the financial integrity of the individual(s) while attaining the benefits they currently need or will need in the future.
There is no cost to you for the initial consultation. Our purpose is to help our clients see the full benefit of the Medi-Cal program.
We are familiar with the ever-changing rules and regulations, the complex legal and financial considerations, and the multi-step application process.
The rules for Medi-Cal are very complex and change each year. Applying is time-consuming and the risk of an incorrectly filed application can be detrimental. We can help. The most effective way to qualify for Medi-Cal is to speak with your senior care consultants before you start the process yourself. Protecting your assets can be one of the most important decisions you make. Our team of Care Consultants are here to help.