Elder Law is an area of law primarily concerned with Medicaid-planning. Medicaid, known as MaineCare here in Maine, is a federal program that will pay for nursing-home care for people who meet certain medical and financial eligibility criteria. At Morse & Pride, we specialize in helping our clients and their families understand the intricacies of the financial eligibility criteria for MaineCare and preserve assets to the highest degree possible. There are two types of Elder-Law planning: Maine Care Pre-Planning and MaineCare Crisis Planning.
70% of people over the age of 65 will end up needing long-term care. Many people believe that Medicare, the federal government’s health-care insurance program for seniors, will cover their long-term care costs, but this is not true. Medicare will cover up to 100 days in a skilled nursing facility, as long as skilled nursing care remains necessary. For those who have means and meet certain health requirements, long-term care insurance will pay all or a portion of nursing-home costs. For those who do not have the means, or do not meet the health requirements for insurance underwriting, MaineCare will pay for nursing-home care once assets have been spent down significantly (currently an individual needs to have less than $2,000 in countable assets to qualify for MaineCare, while a couple needs to have less than $3,000 in countable assets). Through Elder-Law pre-planning, we work to create a plan that will protect your assets to allow you to leave a legacy for your loved ones.
MaineCare Crisis Planning
If you or a family member have not worked to protect your assets beforehand, and are in need of immediate placement in an assisted living facility or nursing home, our only option is crisis planning. Together, we will work to protect your assets as much as possible for your spouse or loved ones, while making informed decisions about spending the assets which must be spent order to qualify for MaineCare.
At Morse & Pride, we are committed to providing excellent service to seniors and their families, and to that end, we offer free 30-minute consultations and house calls.