While planning for the care of aging loved ones or oneself may not be the most exciting topic, it is essential to understand the benefits and requirements of Medicaid. Medicaid can provide coverage for necessary care, ensuring that your or your loved one’s quality of life is maintained without the financial burden of healthcare expenses. Healthcare costs can be significant, and Medicaid can be a valuable resource in securing the funds needed for long-term or nursing home care.
Medicaid has a number of benefits, but the primary benefit for aging adults is relieving the financial burden and stress of long-term or nursing home care.
In New York, Medicaid covers the following areas:
- Comprehensive coverage: With Medicaid, comprehensive coverage includes a wide range of services, including preventative care, hospital stays, emergency care, and prescription drugs. Covering comprehensive care through Medicaid ensures that individuals receive care that promotes their short- and long-term well-being.
- Long-term care services: Long-term care services that are covered under Medicaid include nursing home and home health services for eligible patients. This particular service assists elderly or disabled individuals requiring daily care.
- Access to specialists: As an individual with Medicaid, you have access to a wide range of doctors, mental health professionals, dentists, and other specialists. The purpose of this is to provide you with the personalized healthcare you need to experience the highest quality of life possible as you age.
If you or a loved one is considering applying for Medicaid, there are eligibility requirements that need to be met, including:
- Income requirements
- Assets requirements
- Citizenship or legal status
- Need for medical care
- Enrollment in managed care
These requirements can change over time and can vary based on your circumstances. It’s crucial to seek guidance from an experienced elder law attorney to understand your eligibility for Medicaid and the benefits it can offer for you or your loved one’s medical needs.
Contact Somekh & Associates
Medicaid coverage can relieve you or an aging loved one of the financial burdens of long-term or nursing home care and provide the medical assistance needed to sustain a high quality of life. To learn more about how New York’s Medicaid coverage might be able to help you or a loved one pay for care, check out our new ebook.
At Somekh & Associates, we’ve been helping families and individuals make plans for their future personal and financial well-being since 1997. Call us today at (917) 633-8461 or visit our website to schedule a consultation.