Save on Nursing Home Costs with Medicaid Planning
You can save on nursing home costs with Medicaid planning.
Did you know it costs roughly $9,000 a month for a nursing home room in Colorado in 2020?
Many individuals, even those who put money away for these costs, cannot afford to pay this amount each month out of their own pockets.
In the short video below, attorney Lucas Frei discusses how Medicaid planning can help you or a loved one afford care in the nursing home.
Save on Nursing Home Costs With Medicaid Planning
Reach out to a member of our estate planning and elder law team for a initial meeting. They’ll review your circumstances and discuss the options available to you.
Set up a meeting here or call 303-688-0944.
Meet the members of our estate planning and elder law team.
Hello, everyone. Lucas Frei, Attorney at Robinson & Henry P.C. here. Hopefully, everyone’s doing well. I wanted to discuss quickly Medicaid planning and what Medicaid planning can mean for you.
What Is Medicaid Planning?
In short, Medicaid planning is a process in which we utilize different strategies, such as a gifting strategy or purchasing Medicaid qualified annuities, or entering into a long term care agreement.
There’s half a dozen or so different strategies we use, and we use these to help you save money on long term care.
What Medicaid Planning Can Do for You
By utilizing these different strategies, we can then get you qualified for Medicaid, have Medicaid paying your medical bills, when it’s needed there.
This will also help to preserve your nest egg that you’ve worked hard for your whole life and help you to have something to hand off to your children there at the end of life.
What to Do if a Loved One Enters a Nursing Home
Medicaid planning is extremely important. We can utilize irrevocable trusts. We can do all sorts of different things, no matter what time you come to us.
The sooner you come to us the better. But if you’re entering into a Medicaid facility, if you have a family member who’s going into a nursing facility right away, still come see us.
There are ways we can save you a significant amount of money.