Medicaid is a program that helps many people in Atlanta and across the country. It is a program that pays medical bills for low-income persons who meet its eligibility requirements. Many people over the age of 65 are eligible for Medicaid benefits. Many people with special needs also are eligible for Medicaid benefits. In Georgia, Medicaid is administered by the Georgia Department of Community Health. Medicaid pays medical bills with federal and state tax money.
While people over the age of 65 are eligible for Medicare, they may also be eligible for Medicaid. If they are eligible, Medicaid will cover Medicare premiums, co-payments and deductibles. The state of Georgia can seek reimbursement from people 55 or older. This is called "estate recovery," and it can involve measures such as placing a lien on the beneficiary's home.
Is there any way for Medicaid beneficiaries to protect themselves from estate recovery? It may be possible t o protect assets through the use of special trusts. These can help beneficiaries to protect their assets while allowing themselves to be eligible for Medicaid benefits. Often, Medicaid beneficiaries will want to pass assets along to their descendants and to worthy causes. Trusts and other strategies can help with this.
It can be a great idea to protect assets and property before signing up for Medicaid. Doing so can be very complicated, however. Asset protection is one task that needs to be done right the first time. Many Atlanta residents have had good outcomes when they entrust attorneys with putting together the trusts and providing advice on other strategies.