When it comes to the types of healthcare that many Buffalo seniors will require, even a well-off couple can be devastated by the associated costs.
Medicaid is one way for a family to be able to access nursing home care for a spouse, while leaving the other with the resources required to live their life well in retirement.
Spousal Refusal is one way to help ensure eligibility for a spouse who needs nursing home care, while protecting the wealth and assets of the spouse who is well.
Essentially, the well spouse fills out a form for Medicaid refusing to pay for the cost of the care the less-well spouse is receiving.
Medicaid cannot reject the less-well spouse on these grounds, so that spouse is covered and receives the care they need.
Typically, Medicaid will seek reimbursement from the well spouse for its expenses, but Medicaid’s payments to nursing home facilities are a fraction of the private rate that the home would normally charge.
The well spouse will still be responsible for some of the costs, but at a potentially large discount.
When used as part of comprehensive Medicaid planning, Spousal Refusal can ensure that both spouses have the resources they need to live good lives in retirement.
The attorneys at Friedman & Ranzenhofer can help you make appropriate plans that ensure that both of you are protected in your golden years.
Call us today at 716-542-5444 to speak to an experienced Buffalo Medicaid planning attorney for free.