Before we look at the matter of Medi-Cal eligibility and home ownership, we should briefly explain why Medi-Cal is important to many seniors who were never financially needy.
Medi-Cal is a need-based health insurance program that is intended for people with limited resources. In spite of this, a high percentage of elders ultimately seek Medi-Cal eligibility. This is because Medicare will not pay for long-term care.
If you were to require assistance with your activities of daily living, this is looked upon as custodial care rather than medical or convalescent care. Medicare does not cover custodial care, but Medi-Cal will assist with these costs.
Medi-Cal and Home Ownership
If you have some resources entering retirement, you must take certain steps to qualify for Medi-Cal. There are income and asset limits, but some things that you own do not count. Your home is not considered to be a countable asset for Medi-Cal planning purposes. This will certainly help, because your home may well be your most valuable asset.
However, you do have to be aware of potential Medi-Cal recovery efforts. The program can seek recovery from your estate after you pass away. However, if you take the appropriate actions, you can potentially protect your home from Medi-Cal recovery.
Medi-Cal Planning Special Report
In this post we have provided a tidbit of basic information. There is a great deal to digest if you are interested in future Medi-Cal eligibility.
We place an emphasis on Medi-Cal planning, and we have prepared a special report that puts the subject under the microscope. This report is being offered free of charge at the present time, and you can access your copy of the report through this website.
Click this link and follow the simple instructions to obtain the download: Free Medi-Cal Planning Special Report.
Attend Our Upcoming Medi-Cal Planning Workshop
There is only so much that you can learn on your own. Medi-Cal planning can be quite complex, and laws are changing all the time.
Long-term care is extremely expensive, and these costs can wipe out everything that you have been able to accumulate throughout your life. This is why Medi-Cal is so important to so many elders.
Our firm endeavors to provide an ongoing stream of solid information on this website, but we also take things a step further. We offer elder care workshops on an ongoing basis, and there is a very informative workshop coming up next month.
The workshop is taking place on Tuesday, September 30th, at 4:00 p.m. It should end at about 5:30, and it is being held in our office, which is located at 3425 S. Bascom Ave. in Campbell, California.
To register for this FREE workshop, visit this page: September Medi-Cal Planning Workshop.
