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"Many people who were never poor ultimately rely on Medi-Cal to help with their long-term care costs. Learn how it is possible to position your assets with future Medi-Cal eligibility in mind in this presentation".
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IS MEDI-CAL ONLY FOR THE POOR?
HEALTH INSURANCE SAFETY NET
Medi-Cal is a health insurance program that is jointly run by the
federal government and the California state government
It is theoretically a safety net that is only available to people with significant financial need
MEDICARE
MEDICARE is a health insurance program
for seniors
It is not need-based
You earn coverage as you pay taxes over the years
Most elders don't need Medi-Cal coverage at first because they have
Medicare
LONG-TERM CARE
The majority of Americans will eventually
need help with theirday-to-day needs
UNFORTUNATELY, Medicare does not pay for long-term care
A stay in a nursing home or assisted living community
is very expensive
INHERITANCES LOST
The average stay in a nursing home in Northern
California could cost around $200,000
Depending on the extent of your resources, you could spend
everything that you have saved paying for long-term care
There would be nothing left to leave to your loved ones
MEDI-CAL PAYS FOR LONG-TERM CARE
Though Medicare will not pay for long-term care, MEDI-CAL WILL
ASSIST WITH THESE EXPENSES
Many people who were never poor ultimately rely on Medi-Cal to help
with their long-term care costs
HOW CAN THIS BE?
It is possible to position your assets with future Medi-Cal eligibility in mind
If you plan ahead effectively, you may be able to qualify for the program while retaining a maximum store of resources
If you would like to discuss Medi-Cal planning with an elder care specialist, contact our firm to
schedule a free consultation
Click to visit: www.attorneyoffice.com