Elder Law Today Podcast Show #11 The Current Economic Crisis. What Does it Mean for Medicaid and Long Term Care
Much has happened in both the economic and political arenas since the last show, including the steep drop in the stock markets and the election of President Obama and changing of power in Congress from Republican to Democrat. In show number 11 of his podcast, Elder Law Today, practicing elder law attorney, Yale Hauptman discusses how this all will affect the average American who needs long term care.
Some of these changes have already begun to occur. Yale explains how rising unemployment, the government bailout of failing financial companies and the drop in stock markets and thereby, peopleâs savings, have all combined to create a âperfect stormâ of conditions that will cause State Medicaid offices to delay and deny a greater number of Medicaid applications for long term care.
He discusses some of the scenarios in his office where this is already happening. Take the case of the daughter who took cash out for Mom over the years but didnât keep good records as to how it was spent or the son who paid for Mom and Dadâs care at home out of his own funds when they had none left and now wants to be reimbursed from the sale of their home when they enter a nursing home. In both cases Medicaid has scrutinized these transactions and delayed approval.
We are now almost 3 years removed from the last round of changes to the Medicaid laws instituted under the Deficit Reduction Act (DRA). Learn why this law will have even more impact on the ability to qualify for government benefits as we go forward.
This 11th show is one you canât afford to miss, with information and ideas that you need to act on now to be sure to protect yourself and
your loved ones going forward. Be sure to tune in.
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