Our La Crosse Attorneys Can Help You Obtain Medical and Long-Term Care Benefits from Medicare, Medicaid, Medical Assistance and Waiver Programs like Western Wisconsin Cares
Many seniors rely on Medicare, Medicaid, Medical Assistance and waiver programs such as Western Wisconsin Cares for their medical and long-term health care needs. Seniors are often discouraged from applying for benefits because of the low asset cutoff. To qualify for some programs, you must have less than $2,000 in available assets. To obtain eligibility, many people transfer assets in a manner consistent with their estate plans. Improper transfers of assets maybe a divestiture that results in denial of benefits.
When executed properly, transfer of assets is an integral part of long-term benefits planning. Proper and legal medical and long-term planning is essential to assure relative comfort in your elder years. Serious consequences can result if you improperly divest assets. In fact, you could be denied eligibility for Medicare, Medicaid, Medical Assistance and waiver programs like Western Wisconsin Cares if you engage in improper divestments.
Generally, when you transfer assets or income to a spouse, child, or anyone else for less than the fair market value to become or remain eligible for Medicare, Medicaid, Medical Assistance and waiver programs like Western Wisconsin Cares in Wisconsin, you become subject to a denial of benefits or a penalty period. During that time, you will be responsible for paying benefits, even though you no longer have the divested funds. The Deficit Reduction Act of 2005 created a “look-back” period, during which transfers made in the previous five years are subject to government review. It is important to consult an experienced La Crosse elder law lawyer to ensure that you avoid, reduce and/or plan for any penalties and develop the best possible strategy to obtain Medicare, Medicaid, Medical Assistance and/or waiver programs like Western Wisconsin Cares.
If you or someone you love is considering the best way to obtain medical and/or long-term care benefits whether or not you are entering an institutionalized setting, you should contact an experienced La Crosse elder law attorney from Moen Sheehan Meyer, Ltd today. We provide conservative but intelligent planning to ensure a comprehensive and legal plan. We have been protecting the legal rights, safety and dignity of our Coulee Region elders since 1853. We have developed the strategic foresight, legal knowledge and compassion to adequately provide for your medical, lifestyle and financial needs.