Protecting Your Medi-Cal Assets for Skilled Nursing Care in California
Understanding the Medi-Cal Skilled Nursing Asset Test – What California Residents Should Know for Long-Term Care
As your California elder law attorney, I want to share an important development. Proposed Medi-Cal eligibility changes could significantly affect many California seniors and their families, particularly concerning skilled nursing facility qualification. This update is worth your attention.
California’s Medi-Cal Journey: A Brief Overview
On January 1, 2024, California took a unique step. We became the only state to eliminate the Medi-Cal asset test. This allowed more individuals to qualify for vital long-term care benefits, including skilled nursing facility care, regardless of their savings. It was a positive change for many California families.
However, due to recent state budget considerations, Governor Newsom is now looking at the possibility of reinstating the Medi-Cal asset test.
What This Potential Change Could Mean for You and Skilled Nursing Care
If the asset test returns, California may revert to familiar limits:
- Around $2,000 for an individual
- A 30 month or possible 5-year lookback period for certain asset transfers
This potential change aligns with rules in many other states. It raises a valid concern: individuals might need to “spend down” their personal savings to qualify for necessary skilled nursing facility care. This possibility highlights the value of proactive estate planning specifically for long-term care qualification.
Your Current Estate Plan: Is It Prepared for Skilled Nursing Needs?
This isn’t just about future care needs. It also relates to your existing estate plan. Many current estate planning documents may not contain the specific language or strategies to effectively protect assets if an asset test and lookback period are reinstated, especially when planning for skilled nursing facility costs.
Now might be a good time to review your California estate plan. We can help ensure it includes appropriate Medi-Cal qualification strategies and asset protection planning tailored for long-term care and nursing home eligibility.
Taking Steps to Protect Your Future and Access Skilled Nursing Care
Are you anticipating the need for Medi-Cal for skilled nursing facility care in the future? Taking action sooner rather than later can be beneficial.
Consider contacting our Walnut Creek elder law office. We can discuss your options and review your estate planning documents. Planning ahead can make a significant difference in safeguarding your financial future and providing greater peace of mind regarding nursing home costs and Medi-Cal eligibility.
About Walnut Creek Elder Law in Walnut Creek, California
Michael J. Young is an experienced elder law, estate planning and asset protection planning attorney in Walnut Creek, CA. Mr. Young advises his clients regarding their estate planning needs with an emphasis on asset protection, Medi-Cal qualification, and preservation of assets for various levels of their care as they get older. Mr. Young’s journey into elder law began when his mother suffered from an acute injury that required her to be in a skilled nursing facility. He is co-author of the book, Don’t Go Broke in A Nursing Home and is the author of the “Alzheimer’s Legal Survival Guide.” Mr. Young presents monthly workshops in Walnut Creek regarding estate planning, asset protection, and Medi-Cal planning. He has helped many clients over the years successfully qualify for Medi-Cal and has protected their assets from state recovery. Call today to schedule a consultation (925) 256-0298.