St. Petersburg Medicaid Planning Attorney
As people become older, the cost of their healthcare generally increases. As seniors age, they incur higher medical costs to treat long-term illnesses, injuries, or disabilities. As elders incur these costs, they often worry about how they will pay for them, as they are no longer earning an income. At the same time, these individuals also face certain legal issues regarding their long-term care in assisted living facilities or nursing homes. This type of care is incredibly costly and while many elders require it, they do not know how to pay for it.
This is often when Medicaid planning is of the utmost importance. Seniors often require Medicaid benefits to offset the cost of their medical expenses. However, it is important one plans for these benefits long before they are needed. Still, if you or your spouse has suddenly become sick or needs long-term care, it is not too late to speak to a St. Petersburg Medicaid planning attorney.
What is Medicaid Planning?
The federal government runs and oversees Medicaid, which is a healthcare program available to millions of people in the United States. It is a common misconception that the benefits provided through Medicaid are only available to individuals with low incomes, or those who have a need for benefits but who are also facing hardship. While this is true, Medicaid can also help aging adults pay for the following:
- Expenses associated with hospitalizations,
- Physician expenses and the cost of other outpatient medical services, including doctor’s visits, lab services, and medical equipment,
- Medicare Advantage Plan, and
- Prescription medication costs.
Currently, there are 4.6 million seniors who benefit from Medicaid, especially pertaining to the coverage of long-term care costs. Our Medicaid planning lawyer can fully explain how these benefits work and if they can help you now or in the future.
Reasons for Medicaid Planning
Medicaid planning is important for many reasons, but there are two that are of particular concern. The first is the rising cost of healthcare in the United States. Each year in the country, the cost of healthcare is well over $3 trillion, meaning the cost of healthcare is increasing faster than the rate of inflation. The cost of healthcare is only going to keep rising, which is why it is so important for all adults to consider Medicaid planning.
The other main reason for Medicaid planning is due to the aging population. As people get older, there will be an increased need for long-term care in assisted living facilities or nursing homes. With the many medical advances being made every year, it also means that life expectancies are longer and people will need Medicaid benefits more than ever before.
Our Medicaid Planning Lawyer in St. Petersburg Can Help You Obtain the Benefits You Need
David Toback is a St. Petersburg Medicaid planning lawyer that knows the needs you may face in the future, and can help you get the benefits you need to help with them. Call us now at 813-252-7529 or chat with us online to schedule a consultation and to get more information.