Steadfast Care Planning

Medicaid Planning with Cathy Sikorski

November 21, 2023 Kelly Augspurger
Steadfast Care Planning
Medicaid Planning with Cathy Sikorski
Show Notes Chapter Markers

Have you ever thought about Medicaid Planning? What is Medicaid Planning and is it right for you?

I chatted with Cathy Sikorski, Esq., an elder law attorney, speaker and caregiver, about the intricacies and details regarding Medicaid Planning and who it is a good fit for, and  for those who should look into other options.

In this episode we covered:

🔹 The issue of giving away assets to qualify for Medicaid coverage for long-term care 

🔹 Government examination of financial history for the past five years

🔹 Warning against mistakes and importance of consulting experts

🔹 Being prepared and exploring other options

🔹 Choosing the right facility and considerations for Medicaid Planning 

🔹 Implications of relying on Medicaid for care 

🔹 Estate recovery and partnership programs in reciprocity

🔹 Keeping assets and not needing to spend them down before qualifying for Medicaid

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Watch this episode on YouTube: https://youtu.be/akNGzvAyRss


 #LongTermCare #FinancialPlanning #SteadfastCarePlanning #MedicaidPlanning #PlanningForCare

For additional information about Kelly, check her out on Linkedin or www.SteadfastAgents.com.

To explore your options for long-term care insurance, click here.

Steadfast Care Planning podcast is made possible by Steadfast Insurance LLC,
Certification in Long Term Care, and AMADA Senior Care Columbus.

Come back next time for more helpful guidance!

Introduction
Medicaid and Medicare are not the same thing
What level of care is needed in order to qualify for Medicaid and where is care provided?
What are the Medicaid eligibility rules?
What is Medicaid Planning?
People want to protect their legacy
Medicaid plan kicks in, because it kicks in during the crisis
What does estate recovery mean and what does that look like
There's one other thing called filial responsibility
State Partnership Plan
Five year look back period
Planning in advance
Who is Medicaid Planning not a good fit for?
You need to seek out professionals
How does Medicaid Planning work?
There's something called a Medicaid annuity
What about the irrevocable trust
Misunderstanding Medicaid Planning
Working with Reputable People
Advice on how people can plan for care to live well
Cathy's Contact Information