The high costs of home care and nursing home care threatens to quickly drain the estates of elderly Central New Yorkers. While long-term health care insurance can help defray these costs, many senior citizens either do not qualify or cannot afford such coverage. With careful planning and guidance from a Tully Rinckey PLLC elder law attorney in Syracuse, N.Y., Central New Yorkers 65 years of age and older may be able to receive health care from Medicaid – and still preserve much of their estate for future generations.
By 2010, nursing home care in Central New York cost an average $96,180 annually or $264 daily, according to the New York State Partnership for Long-Term Care. For Medicaid to cover these nursing home or other long-term care-related expenses, an individual who is 65 years of age or older must have an income and resources below certain levels. The thresholds for Medicaid eligibility in New York are:
|New York State 2012 Medicaid Eligibility Thresholds|
|Income||Resources||Joint Income||Joint Resources|
How We Can Help
The elder law attorneys at Tully Rinckey PLLC in Syracuse, N.Y. can help Central New Yorkers meet these Medicaid coverage requirements. However, it is important that you do not delay in calling one of our Medicaid planning lawyers. The sooner you start preparing for long-term care, the less likely you will be subject to costly penalties. All asset transfers and spending within the 60-month period before a person applied for Medicaid benefits will be scrutinized by the government. Improper transfers and spending within this five-year “look-back” period could adversely affect the amount of Medicaid benefits provided.
Tully Rinckey PLLC Partner Darren M. Swetz has over 15 years of estate planning experience. Start planning for Medicaid today. Our Medicaid planning strategies include the following
- Advice and opinion on spending down options
- Preparation of a Medicaid trust
- Preparation of retained life estates
- Advice and opinion on gifting options
- Advice and opinion on promissory loan options
Call a Tully Rinckey PLLC Medicaid planning lawyer in Syracuse, N.Y. We can represent individuals throughout Central New York, including Syracuse, Cicero, North Syracuse, Manlius, Liverpool, East Syracuse, Cazenovia, Baldwinsville, and DeWitt. To schedule a meeting with a Medicaid planning attorney, call 315-492-4700 or e-mail email@example.com. Click here to view a video about our consultation process.
Our office is minutes away from Destiny USA, formerly the Carousel Mall, and several courthouses. Located in Franklin Square, near exits for I-81 and I-690, our office is easy to get to and offers plenty of nearby parking.
If your legal matter is urgent, call 518-727-3593 to speak to an attorney 24 hours a day, seven days a week. The firm is responsive to the needs of current and prospective clients. We will respond to phone calls within normal business hours and e-mails within hours on the same business day. The quickest way to get a hold of us is by calling. During normal business hours, we have a client relations team that can put potential clients in touch with the attorney whom they need. If you call or e-mail us after hours, you should expect to hear from our office by the next business day.
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