Understanding Medicaid in Lynchburg, VA

Discussing and getting a Medicaid plan established with a licensed attorney early on is important to make sure you aren’t bombarded with long-term care bills down the road. Medicaid planning is a way to ensure you are ready when the time comes to need at-home aid or need to move to an assisted living center. If you wait until you’re already dealing with health concerns to start the Medicaid application process, you will likely have to wait for it to be approved, and sometimes the applications aren’t approved on the first submission. If you are ready to start discussing your Medicaid plan, our highly educated attorney at The Estate and Elder Law Center of Southside Virginia knows the ins and outs of Medicaid in Lynchburg, VA, and is here to help you get started. 

Understanding the Basics of Medicaid Planning

Medicaid mostly helps people, mostly seniors, in need of long-term care. When you are no longer able to perform your daily activities on your own, you may need to start looking at long-term care options. Long-term care can be a nursing home, assisted living center, rehabilitation center, or at-home nurse aide. No matter the case, these types of care cost a lot of money. 

While Medicaid more than likely will not be able to pay for your entire long-term care bill, it will be able to cover a majority of it. Did you know that the average monthly bill of a nursing home or other assisted living facility is over $10,000? Most people will not be able to afford that monthly bill on top of any other expenses they already have. That is why Medicaid planning is so important.

Am I Eligible for Medicaid?

To receive Medicaid in Virginia, you first need to be medically eligible. This means that you have to be either over the age of 65, have a disability, or be blind to receive full Medicaid benefits. With that being said, you also need to be financially eligible. Now, even if your income is over the state’s eligibility limit, you can still qualify by “spending down,” meaning they can spend some of their income on medical bills. 

You may be wondering what exactly Medicaid counts as income. Counted income can be employment wages, alimony payments, pension payments, Social Security Income, Social Security Disability Income, dividends from stocks, and withdrawals from an IRA. 

On the other hand, according to Medicaid, certain assets can not be included as income. Non-countable assets include: 

• Your home where you live permanently
• Household items, such as personal care items, jewelry, clothing, recreational items, musical instruments, and hobby items.
• Motor vehicles
• Burial spaces and reserves
• Life insurance policies
• Property essential to self-support

Let the Experts Do All the Work

Our team of professionals at The Estate & Elder Law Center of Southside Virginia is well-known for helping people with Medicaid, estate planning in Lynchburg, VA, and elder law. We provide personal attention and will give you the highest quality of legal representation and counsel to ensure you and your family are taken care of.

Contact Information:

The Estate & Elder Law Center of Southside Virginia, PLLC

810 Main St
Lynchburg, VA 24504
United States

Contact The Estate & Elder Law Center
(855) 608-0177
https://vaelderlaw.com