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Experienced Troy, Ohio Nursing Home Planning Lawyer
Although few of us want to think of a time when we might need long-term care, according to LongTermCare.gov, an individual turning 65 today has almost a 70 percent chance of needing some type of long-term care services during their remaining years. Women tend to need care longer than men, and while almost a third of today’s 65-year-olds may never need long-term care support, 20 percent will require long-term care for longer than 5 years. Having an experienced Troy nursing home planning attorney from Lovett & House by your side can make the experience much simpler and less stressful.
The town of Troy lies about 19 miles north of Dayton, nestled in the Miami Valley of Ohio. With approximately 26,000 residents, Troy is full of local, unique things to do. Troy is well-known for the Troy Strawberry Festival, held on the first weekend of June, featuring entertainment, craft vendors, activities for the children, and delicious strawberry delights. Downtown Troy offers a year-round abundance of events, shops, and restaurants, and in the summer, you can shop at the local farmer’s market, Cherry Street Local, or other shops.
If you love art, you will love Troy! Each summer, sculptures adorn downtown for Sculptures on the Square. Each year is different; the theme for 2021 was Take Flight. Troy is filled with beautiful green spaces, and plenty of parks for individuals and families to enjoy, filled with ponds, play areas, dog parks, hiking trails, and a sports complex.
Why You Should Choose a Troy Nursing Home Planning Attorney from Lovett & House
At Lovett & House, we know you have choices when you are considering estate planning. We hope you will take the time to contact Lovett & House or take a look at our website. We believe our estate planning firm can offer you the very best in Medicaid and long-term care planning. At Lovett & House, Co., LPA, we have more than 100 positive Google Reviews, decades of estate planning experience, and we offer a free 5-minute phone appointment. As a Board-Certified Specialist by the Ohio State Bar Association, our firm sees many Troy residents, as well as those from Dayton to Springfield and Centerville to Vandalia.
Why Medicaid Is Usually Necessary to Afford Long-Term Care
Without Medicaid, paying for a nursing home in Ohio is unaffordable for most people; according to seniorliving.com, the average monthly cost for a semi-private nursing home room in Ohio is $7,148, while a private room runs about $8,213 per month. Medicaid is a common source of funding for long-term care and the only option for many. Medicare will only cover nursing home care for a short time following hospitalization, while long-term care insurance policies are prohibitively expensive for most. Medicaid does, however, have specific rules regarding eligibility.
Medicaid Eligibility Rules
To qualify for Medicaid, you must be disabled, blind, or 65 years of age or older and require nursing home care and your income must be at or below $2,523 per month, as of 2022. If you are receiving SSI assistance, you already qualify. Ohio—unlike some other states—allows those who are 65 or older, blind, or disabled, to “spend down” their income by paying for health insurance premiums, unpaid medical bills, or nursing home bills. Your Troy nursing home planning attorney from Lovett & House can help you determine what your monthly spend-down amount is to enable you to be eligible for Medicaid.
To be Medicaid eligible, you are allowed to have no more than $2,000 in resources. In the state of Ohio, a car and a home are exempt from this resource amount (your home may have an equity value of up to $636,000). Exemptions also include your personal things. Your retirement account(s) are considered assets to the extent you are able to withdraw money from them. If your spouse will continue living in the marital home, then the home is exempt, regardless of its value.
A spouse living independently is also allowed to keep a certain amount of income each month—Community Spouse Income Allowance. Ohio assumes half the assets you had at the time before you were admitted to a long-term care facility belong to your spouse, subject to a certain limit. Finally, once you qualify for Medicaid and are residing in a nursing home or long-term care facility, you will be expected to spend virtually all of your income on your care and are only allowed to keep $50 per month as your personal needs allowance.
FAQs Regarding Medicaid and Nursing Home Planning
What Does “Medically Necessary” Mean?
To qualify for Medicaid, your stay in the nursing home must be considered medically necessary. This means you require the level of care that can only be provided in a nursing home. You must show that you need assistance with at least two of the following: grooming, bathing, dressing, eating, using the bathroom, taking your necessary medications, and moving around. This is considered “intermediate” care. An unstable medical condition that requires daily skilled nursing assistance will also qualify. Depending on your situation, Medicaid will determine whether you need intermediate or skilled nursing care.
What Are Passport Waivers and the Ohio’s Home Care Waiver Program?
If your doctor certifies you are able to live a home safely with assistance (and you meet the financial and level of care requirements and are over the age of 60), you may qualify for Ohio’s PASSPORT Waiver Program. When you need help with daily tasks and personal care, you could qualify for assistance, including home-delivered meals and some types of nursing care. Ohio’s Home Care Waiver Program can help those who are 59 or younger and meet the financial requirements and who need a nursing facility level of care but who could stay in their own home with assistance.
Getting the Help You Need from a Troy Nursing Home Planning Attorney at Lovett & House
The experienced, knowledgeable Lovett & House attorneys can help you plan for the future by implementing Medicaid trusts, setting up a will, applying for Medicaid, or receiving VA or Attendance benefits. Attorney George Lovett has spoken and written on Medicaid and nursing home planning issues hundreds of times to other lawyers, nursing home administrators, and families. At Lovett & House, we can address all your concerns related to Medicaid and long-term planning. Contact an experienced Troy nursing home planning attorney from Lovett & House Co., LPA today.