New rules are taking effect on October 18, 2018 regarding VA Aid & Attendance Benefits for Wartime Veterans. The new rules have a 36 month look-back for transfer of assets and net worth has been more clearly defined. If you think you or one of your clients may need these benefits for care or Medi-CAL for nursing home care, you should speak with an Elder Law Firm that understands the new rules ASAP.
Basically, if you or your clients are STARTING TO FAIL MENTALLY OR PHYSICALLY and feel that within 36 months (Wartime Veterans or spouses) may need additional care, you need the help of a qualified Elder Law Attorney that is certified with the Veterans Administration. Even more important, you need to make sure any VA planning done meets Medi-CAL spend down rules too. Medi-CAL in California has liberal gifting laws right now, but are in process of changing (DRA is coming!), so my advise to anyone that is facing their golden years without long term care insurance is talk to an elder law attorney that has experience in getting clients qualified for Medi-CAL Nursing Home Benefits.
I know everyone firmly says they will never go to a nursing home! From a practical standpoint… Think about it! If you have a major stroke (do not die and get taken to the hospital) and after a week or less they transfer you to a skilled nursing home for rehab, you may end up in a nursing home and may not be able to afford (financially …$25 an hour for home care) or physically need 24/7 skilled licensed care)… you better have gotten you estate close to qualifying for Medi-CAL…. SO the sooner you have a review of your estate and know your options the better!
There is crisis planning for when you are in a skilled nursing home and facing Medicare giving you 100 days of coverage or less and then at $8,500 a month (up to $30,000 a month for sub-acute care), but new laws are changing how you can reallocate your money to qualify for Medi-CAL LTC.
Too many people think “I have Medicare, so I am covered!” NOT!!! Many Medicare policies only cover 20 days, then a fee of $167 a day kicks in for 80 days…then private pay starts. If you are close to qualifying for Medi-CAL, a good Medi-CAL Attorney will have filed a Medi-CAL application and Medi-CAL will pay most or all of your care depending on marital status and income.
What you do not know CAN HURT YOU!!
Call LA LAW Center at 818.241.4238 for a free phone consultation.