Everyone wants to be protected and covered when it comes to their healthcare. However, they might not know where to start – do you go with private insurance, which costs a fortune, or do you use a less expensive matter? Sometimes, the most complicated part about healthcare is the application process. We have a solution that can help you.
3 steps of Medicaid planning – confused? KTS Pooled Trust Has The Answers To Your Pooled Income Trust Needs
First, you must be wondering – what is Medicaid planning? In simple terms, this simply means providing a wide variety of services by numerous professionals in their field to encompass full-body health. The usual definition of Medicaid planning is assistance provided to an applicant for healthcare before turning in the actual application. Planning helps them prepare for their application to ensure they have all the information correct and fully covered.
Medicaid planning can be simple, or it can be complex depending on the client and the paperwork involved. It can range from gathering the paperwork to ultimately having to structure and design someone’s financial portfolio. The complex portion of Medicaid planning has to do with individuals whose income has ceased since these monthly resources have now halted altogether.
Fortunately, if you choose a reputable organization like KTS, you can rest assured it will be as easy as it can be. KTS Pooled Trust has the answers to your pooled income trust needs.
- A Medicaid planner will explain the application steps and process to the applicant and determine if the person qualifies for getting a Medicaid planner.
- The worker will gather the required documents to show the client is eligible for Medicaid, such as the birth certificate, proof of resources, and paycheck information.
- The planner will check the client’s application to make sure they filled out the information and didn’t miss anything. The final step is submitting the paperwork and advising clients on how to proceed.
Why use Medicaid planning?
Medicaid planning helps applicants have the best possibility of qualifying for Medicaid. However, the reasons why someone might apply depends on their personal situation and their health care preference. Some examples of who might benefit from Medicaid are as follows:
- The application is time-consuming and confusing. You might not know what paperwork to turn in, and you might not have the time to do it yourself.
- You are busy working, but your partner needs help with their application.
- The eligibility is complicated, and simple errors can cause your application to be denied from the program, so Medicaid planning helps ensure you do not miss any steps.
- Long-term care is expensive, and you would not be able to pay for at-home care on your own.
How much does Medicaid planning cost?
Medicaid planning ranges depending on the business you use and your current situation, typically ranging from a few hundred dollars to as much as $15k in some wealthy areas of the country. The cost associated with the planning fees is related to your income level, assets, and other factors like marital status, life insurance, and any benefits you currently receive.
Medicaid planning can seem confusing – but the professional is there to help you have the best possibility of qualifying for Medicaid. To stay protected and covered, qualifying for health insurance is an absolute must.