Understanding Medicaid for Long-Term Care: A Proactive Approach

Blustein, Shapiro, Frank & Barone, LLP Partner Megan Conroy recently joined Bob O. on “Oldies 98.9 FM, The Hudson Valley’s Real Oldies Station” to discuss essential aspects of planning for long-term care, including utilizing Medicaid as a payment source and the importance of strategic financial eligibility.

During the interview, Conroy emphasized that many are unaware Medicaid can cover significant long-term care costs, and that proactive planning can make financial eligibility more attainable. She detailed how establishing trusts can protect assets, ensuring they are not counted against you for Medicaid requirements. Conroy further explained the key difference in New York between community-based care, where trust assets are immediately protected, and nursing home care, which involves a five-year “look-back” period before assets in a trust are fully shielded.

Listen to learn more about using Medicaid for long-term care, the benefits of proactive Medicaid planning versus crisis Medicaid planning, and the importance of expert guidance. Contact Blustein, Shapiro, Frank & Barone, LLP today to discuss your long-term care planning needs!