Using Personal Services Contracts To Qualify For Medicaid
Can an elder law attorney help me get Medicaid by using personal services contracts?
The Gainesville Medicaid Planning Attorneys at The Miller Elder Law Firm are experienced in all areas of elder law. Their knowledge and experience helps them assist clients with their elder law needs; such as using personal services contracts to qualify for medicaid.
If you wish to speak with an experienced, knowledgeable, dedicated elder law professional; call the attorneys at The Miller Elder Law Firm today.
“Other ways to deal with getting qualified for Medicaid, if you are over
assets, is doing things like personal services contracts. Personal services
contracts are agreements between family members usually or other care
providers, friends, and neighbors where they agree to provide services to
you until you die, and in exchange at the set Medicaid hourly rate, they
pay you to provide those services. Now, there is a lot more technical
details to this, but for the most part, if you are like an 89-year-old
woman, your life expectancy is probably about three and a half years. You
can pay someone in one lump sum to provide care to you for three and a half
years and take that lump sum out of your assets. So, if you have a $102,000
and you can put $100,000 into that personal care contract, you’ve now
gotten yourself down to the point where you can qualify for Medicaid. Yet,
you’ve been able to provide to usually a daughter or a son payment for all
of the services that they are going to provide to you until you die, and we
can get you qualified very quickly.”