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  • John Todd

Win- Win!! Just wanted to share . . .

I just wanted to take a minute to share one of our recent WINS here at Elder Care Financial. Actually, I should probably call it a Win-Win-Win-Win situation, as I'll show you below. (I'll change the names to preserve confidentiality - but this was finished THIS WEEK!)

Here's how it went down:

Jane is in Assisted Living and on Medicaid. She sold her house on the FIRST of this month, and so Medicaid is going to end. The family wanted to meet the following goals:

1. Make sure Jane is taken care of.

2. Preserve "As-Much-As-Possible" of the home sale proceeds for an inheritance or gift to the kids.

3. Keep Medicaid involved so when it is needed, she can qualify for Medicaid again.

The Assisted Living had their own request: Since Medicaid doesn't pay real well, they wanted a guarantee of at least ONE YEAR at the Private-Pay rate.

We were able to develop a plan as follows:

WIN #1 - A GIFT to the son NOW for over $300K! (They are planning to set aside at least $100K in case circumstances change in Jane's care.)

WIN #2 - Jane has enough funds and income to pay for her own care for about 3 years.

WIN #3 - We were able to schedule Private-Pay to Assisted Living - not just for ONE year but for almost THREE YEARS!

WIN #4 - The Medicaid worker has reviewed the WHOLE PLAN, and agrees that, according to the rules, Jane will be eligible for Medicaid again in less than 3 years!

I don't know about YOU, but this gets me excited - great to see another family preserve assets according to the rules with a great plan for the future needs.

I just had to share!

PS. If YOU know of someone that would like to have a great WIN - WIN - WIN with Elder Care and Long-Term Care Medicaid, just have them give us a call - 208-553-8634.

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