Medicaid for Beginners: 5 Facts about Ohio Medicaid

Everyone has heard of Medicaid. It is one of the largest health insurance providers in Ohio and covers individuals and families who don’t have insurance and can’t afford to buy it. More than 2.9 million people in Ohio get health insurance through Medicaid every year. But did you know that Medicaid is much more than health insurance for the poor? Here are five facts about Medicaid that might surprise you.

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Should I Share My Estate Planning Information with My Family?

When establishing your estate plan, you generally review your assets with an attorney. This ensures you create a plan according to your wishes. Your attorney will review things like beneficiary designations to determine those designations follow your requests and provide advice on the estate plan most appropriate for your assets. The question that then arises is should I share this information with my family?

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Thoughtful Estate Planning Brings Protection and Peace of Mind

Estate planning begins with an exercise of the mind – an uncomfortable internal question and answer session.  What happens to my assets when I die?  Who will manage my money if I’m in the hospital or a nursing home?  For many, answering these questions is difficult and uncomfortable.  Sometimes people don’t have relatives to leave their assets with or to name as a power of attorney.  Sometimes they have relatives, but they can’t trust them or don’t get along with them.

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Estate Planning Misconceptions

Many people are under the misconception that “estate planning” is primarily drafting a last will and testament; however, it’s much more than that. As part of estate planning, you’ll consider durable general (financial) powers of attorney, health care powers of attorney, living wills, guardianships and more. Estate planning is more than planning for your death; it is also planning for your future.

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Elder Law Talks Episode 3

Hickman & Lowder Co., L.P.A. is excited to continue our Elder Law Talks series. Our short videos are designed to help you expand your awareness, reduce your stress and redefine what is possible as you advocate for your loved one.

This week’s episode: Parents of an Adult Child with Disabilities – What Happens When You Need Care Yourself?

 

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Gathering the Documents Needed When Applying for Medicaid Can Be Overwhelming

When you become financially eligible for Medicaid, the next step is to apply and it’s generally a straightforward process.  You fill out an application with basic information about yourself and submit it to the county Job and Family Services (JFS) where you currently reside.

However, the next steps are crucial and can become overwhelming.

Be prepared to send JFS current financial statements of every account you and your spouse own, along with income verification from every source of income received by you and your spouse. Technically, JFS can require you to provide 60 months (five years) of statements because of the “five-year-look-back” period. This is because JFS will want to know whether you transferred or gifted any assets to someone else before applying for Medicaid.

In addition to all the financial records, JFS wants to ensure you are a citizen and verify what medical insurance you receive. These documents include, but are not limited to, State IDs, Social Security cards, Medicare cards, Medicare Supplement cards, birth certificates and marriage certificates.

Navigating this process can be mind-boggling and working with an experienced Elder Law Attorney can ensure financial eligibility and take the stress off of you when applying.  The attorney will tell you exactly what documents you will need and handle the application process with JFS, saving you the hassle of organizing what could be hundreds of pages of documents.

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