Iowa Falls Medicaid Planning For Long-Term Care

Understanding The Challenge

The rising tide of the Baby Boomer generation into their senior years has catapulted the costs of long-term care into the national spotlight. A staggering 70% of individuals over 65 will require some form of long-term care, as noted by the Department of Health and Human Services. Annually, this leads roughly 1.5 million Americans to seek residence in nursing homes. Despite Iowa Falls and Nebraska offering more affordable care options—ranking 44th and 45th for long-term care costs, respectively—families still face substantial expenses. On average, Iowa's long-term care costs surpass $65,000 annually, and Nebraska's near $70,000, with top-tier facilities in Omaha climbing to $7,000-$10,000 monthly.

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Paying For Care

Long-term care financing is multifaceted

Long-term care insurance is an option, though it's most cost-effective when secured early in life.

Around 25% of nursing home residents rely on personal or family funds, but savings can deplete swiftly at the rates above.

The majority blend personal funds with Medicaid, overseen by each State's Department of Health and Human Services.

Medicaid Eligibility Criteria

Medicaid provides essential medical assistance to those with limited income, including the elderly, disabled, or blind, and is the principal payer for nursing home care in the U.S. While each state has unique rules within the federal framework, navigating Medicaid's complex requirements—including look-back periods, exempt assets, and more—is challenging and subject to frequent changes.

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Proactive Medicaid Planning In Iowa Falls

Our experienced Medicaid planning attorneys specialize in creating long-term strategies to safeguard assets using estate planning instruments like trusts, life estates, and Medicaid Asset Protection Trusts. These plans are integrated with other potential benefits, such as veterans' benefits, to finance care without exhausting family assets.

Crisis Medicaid Planning

Even without pre-planning, our Iowa Falls firm adeptly assists in obtaining Medicaid eligibility amidst the urgency of sudden long-term care needs. We provide comprehensive support through the eligibility process, preserving as much as half of an individual's assets while ensuring quality care and compliance with regulations.

Our Planning Process

We begin by gathering detailed information to assess your Medicaid eligibility, considering your family, health, income, assets, and other vital factors. With this data, we craft a Comprehensive Medicaid Asset Protection Strategy Plan, outlining applicable rules and identifying the most beneficial strategies for you.

After choosing your path, we facilitate the execution of the plan, assist with Medicaid application preparation, and handle necessary administrative follow-ups with Iowa Health and Human Services or the equivalent Nebraska department. We also manage any required hearings and annual renewals to maintain your benefits.

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Become Part Of Our Estate Planning Family

For community spouses, our planning ensures the retention of your home, vehicle, belongings, and a significant portion of assets and income—even as your partner receives Medicaid-funded care. With professional planning assistance, protecting your resources and securing quality care in Iowa Falls becomes achievable.

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Iowa Falls Medicaid Planning For Long-Term Care

Understanding The Challenge

Paying For Care

Medicaid Eligibility Criteria

Proactive Medicaid Planning In Iowa Falls

Crisis Medicaid Planning

Our Planning Process

Office Locations

Some Of The Areas We Serve

Minot, ND

Iowa Falls, IA

Estate Planning Attorney in Omaha, NE

Minot, ND Office

Iowa Falls, IA Office