Many California residents think they must live at the poverty level to qualify for Medi-Cal Long-Term Care benefits, but this isn’t true. Medi-Cal has over 90 eligibility categories, each with its own guidelines.
We created Medi-cal Benefits to help seniors qualify for Medi-Cal so they can get the long-term care they deserve without depleting family assets.
The Shockingly High Cost Of Long-Term Care
Studies show that those turning 65 today have a 70% chance of needing long-term care in the future. To make matters worse, 20% of those will need services for at least 5 years. (1)
The average price for a private room in a nursing home is $9,817 per month in California. (2) If you live in a high cost-of-living area, such as San Francisco, that price jumps to $11,649 per month. (3) Expenses this large can quickly deplete your nest egg, leaving nothing to pass on to your loved ones.
So, how do you prepare to cover these costs in retirement? Just as you would engage in tax planning or estate planning, we encourage seniors to prepare for long-term care needs through Medi-Cal planning. In fact, that’s the reason why we created our firm.
Our Services | What We Do
We offer holistic long-term care planning aimed at helping you maximize Medi-Cal benefits and reduce out-of-pocket costs. Some clients come to us while planning for future care, while others come to us during an imminent crisis.
Our team of dedicated retirement specialists works with families to choose long-term care solutions that protect and preserve their assets. We help our clients:
- Prepare and submit applications for Medi-Cal Long-Term Care benefits.
- Plan gifting and asset strategies to protect funds.
- Work with Medicare experts to create a comprehensive plan.
We do everything from start to finish to ensure the best results for even the most complex of cases. And, if needed, we even refer clients to our trusted partners to make sure they receive the best outcomes for their family’s wealth.
3 Levels Of Long-Term Care Planning
Whether you need help paying for skilled nursing facility stays or care at home, we help you do it in a way that won’t deplete family assets. We offer 3 levels of long-term care planning, depending on how soon you need benefits.
Pre-Planning
We offer pre-planning services for those taking a proactive approach to long-term care. We review estate documents and ensure assets are protected should you need care. If current assets make you ineligible for Medi-Cal benefits, we restructure them as necessary.
Crisis Planning
We offer crisis planning for individuals who need to receive long-term care immediately but have too many assets to qualify for Medi-Cal benefits. Even if you’ve been denied before or currently live in a nursing facility, our team can assess your situation to determine future eligibility.
Recovery Planning
Even after the death of a loved one, beneficiaries worry if the State of California will come after their assets. Our team offers recovery planning to prevent this from happening. We start by reviewing estate planning documents, income, and assets. Then we create a tailored plan that helps you avoid estate recovery.
Get Started Today
At Medi-cal Benefits, we help you get the long-term care you deserve, while reducing your financial burden and protecting your family’s wealth. Whether you think you’ll need care in the future or you’re in the middle of a medical crisis right now, we’re here to support you every step of the way.For more information, call Leslie at 909-985-4466 or email info@medi-calbenefits.com.
About Philip
Philip A. Board MSFS, CFS, is a retirement planning specialist and the founder of 1on1financial, an independent comprehensive investment firm serving individuals and businesses throughout the United States. He is also the owner and CEO of Medi-cal Benefits.
__________
(1) https://longtermcare.acl.gov/the-basics/how-much-care-will-you-need.html
(2) https://www.seniorliving.org/nursing-homes/costs/
(3) https://www.medicaidplanningassistance.org/nursing-home-costs/