Seminar: Legal and Financial Issues for Aging and Disabled Relatives
Stuart E. Schmitz, Schmitz, Schmidt & Anderson, PA.
400 Robert Street North, #1840
St. Paul, Minnesota 55101
What is Elder Law?
- Financial and Personal Autonomy
- Family Harmony & Organization
- Peace of Mind
Getting Your “Legal House” In Order
- Power of Attorney
- Health Care Directive
What are the Legal Consequences of Not Having Your “Legal House” in Order?
- Limit decision making choices and financial planning options
How to Finance Long Term Care Costs
- Understanding what health care coverage you do or do not have
- Health Insurance
- Long Term Care Insurance
- Veteran’s Benefits
- Private Payment
- Medical Assistance
- Will public benefits provided by government programs be available in the future?
- Will the quality of care provided by government benefit programs provide the necessary quality of care desired?
Medical Assistance (Title 42 United States Code, section 1396a, and Minnesota Statutes, Chapter 256B)
- State/Federal Program to Fund Health Care Costs of Poor, Disabled and Elderly (“Medicaid” in many States)
- Three Requirements (Residency/Categorical/Financial)
- Asset Limit = $3,000.00
- “Available” Assets
- “Unavailable” Assets
- “Exempt” Assets
- Income Contribution Toward Care = All Except $97.00 Per Month Personal Needs Allowance
- Qualification for Individual Applicants
- Qualification for Married Couples
- Home and Community Based Care Programs
- Elderly Waiver – Medical Assistance eligibility
- Alternative Care – State funded
- Group Residential Housing – assisted living facility assistance
- Rules and Restrictions Regarding Protection of Assets
- Liens and Estate Recovery: What right do the State and County agencies have to receive reimbursement for Medical Assistance services provided?
- 1. Liens against non-homestead real estate
- 2. Claim against the estate of second spouse to die for reimbursement of benefits paid.