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Long Term Care #8573525 04/07/22 01:16 PM
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Brother in-law Online Content OP
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I need info on long term care and Medicaid and how to get it. Are there any THF people in this business?

Life has quickly dealt me some new challenges

Re: Long Term Care [Re: Brother in-law] #8573543 04/07/22 01:30 PM
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If your trying to get long term care insurance for someone old and health declined forget about it they won’t qualify…..Medicaid is the only option AFTER they spend all their money first….part of qualifications for Medicaid is the 5 year look back to make sure any assets given to family members are seized and used for the expenses before Medicaid starts paying…


Marc C. Helfrich
Retirement Planner

www.insured-wealth.com
469-323-8920
Re: Long Term Care [Re: Brother in-law] #8573563 04/07/22 01:54 PM
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https://texashuntingforum.com/forum/ubbthreads.php/topics/8549269/1

(tlk) seems to be very knowledgeable.

Texas Hunting Forum Forums Off Topic PM me any insurance questions

I have been in the insurance business for 42 years as a totally independent agent. Life is good and I am working part time now. Over the years I have shared my experience on many threads here that asked insurance questions.

If any of you have questions or want advice on insurance I will gladly do my best to help you out. I will NOT sell or try to sell anyone on this forum anything. I just have been blessed to have had a great business with a ton of great friends and clients and this is my way of paying it back.

I do not do property and casualty (auto, home owners,etc.)

What I DO know inside and out is: life insurance, group medical insurance, Medicare supplements, long term care insurance, disability insurance and investments.

So feel free to PM me any questions (remember there are no stupid questions) and I will do my best to give you a second opinion


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Re: Long Term Care [Re: Brother in-law] #8573565 04/07/22 02:02 PM
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There are ways to do both.

If the person is already qualifying for 2 ADL's there is a way to get them medicaid to cover the cost of care. It will cost roughly 20k and take several months to get done.

As far as insurance goes I sell nothing but a big life insurance policy that can be used for LTC. Some of my high net worth clients I have referred to another member of THF for their investments. These clients virtually all have this hybrid life policy. 1:2 people will use LTC at some point in their life. All of us will die. The life product is priced cheaper and easier to qualify for.


President of American Entitlements LLC
Health insurance agency focusing in all ages from ACA plans all the way through Medicare.
Office is based in Wylie, TX
We have local agents in both Texas and Louisiana
469-814-0289
Re: Long Term Care [Re: Brother in-law] #8573568 04/07/22 02:04 PM
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My sister and her husband luckily both had long term care insurance. When the BOTH developed issues where I have to put them in separate memory care homes. The long-term care covered it all plus ancillary items.

I have a great contact if you need to find some type of memory care home. These are houses NOT nursing facilities.

Feel bad for you P. I got thrown into this area fast and had to learn a lot real fast.


SPACE FOR RENT


Re: Long Term Care [Re: Brother in-law] #8573574 04/07/22 02:17 PM
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Originally Posted by Brother in-law
I need info on long term care and Medicaid and how to get it. Are there any THF people in this business?

Life has quickly dealt me some new challenges


So I am assuming you are looking for nursing home/assisted living from Medicaid and not to purchase a long term care policy in the market place?

If so then I suggest getting an appointment with the Medicare office to get the details on how to qualify. Also there are Elder Attorney's who specialize in helping folks qualify for Medicaid coverage. The rules can be a little tricky - you have to basically not have much cash left (I believe a home and car are fine) - there is something called a Miller's Trust that some people use - also some folks will tell you to give away the cash to kids, etc. but there is a look back rule that can nix that. So if it were me I would consult an attorney - hope this helps

If you are looking to purchase a long term care policy then I suggest contacting an independent agent who handles it - wife and I have ours with Mutual of Omaha who I think has one of the best products on the market.

Last edited by tlk; 04/07/22 02:48 PM.

You can't fix stupid
Re: Long Term Care [Re: Brother in-law] #8573584 04/07/22 02:31 PM
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You first need an attorney that ONLY handles Medicare qualification. It will not be cheap, but they know the ins and outs. Then the real fun begins. Good luck with everything.


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