Elder Advantage helps families protect assets

Feb. 6--Some long-term care experts say many people think Medicare pays for senior citizens' nursing home care when they run out of assets.

Actually, Medicare is the wrong federal agency in that scenario. It's a misconception that shows how little the general public knows about the complex Medicare/Medicaid system.

Medicare provides health insurance that covers doctors' visits, medical services and hospital care for people ages 65 and older. It does not, however, pay for permanent long-term care placement.

Medicaid, which most folks associate with health insurance benefits for low-income households, pays for impoverished residents in nursing homes.

But what about everyone else?

Regional nursing homes charge up to $300 a day, which can quickly deplete a family's assets. Some of those may be generational, such as houses and farmland, and are meant to be passed down to loved ones.

Many families don't realize there are ways to preserve assets when a loved one is placed in a nursing home, says Nicole Hawkins, certified senior advisor and CEO of Elder Advantage. In 2006, she founded the Owensboro-based firm to help people in Kentucky, Ohio, Tennessee, Indiana, Illinois, Kansas and Iowa safeguard their assets when faced with mounting costs for long-term care.

"There are a lot of people who start paying privately who would qualify for Medicaid," Hawkins said. "There are a lot of exempt assets. A lot of it depends on the situation."

The federal government presumes residents have a working knowledge of Medicaid law, but the system is complicated and ever-changing.

Hawkins has found even well-trained Medicaid workers aren't always up to speed on the system's benefits. When they make errors, the average person usually accepts the advice because residents lack the knowledge to dig in and ask the right questions of federal employees.

Hawkins and her team are experts in Medicaid law. Also, Meghan Johnson, a private attorney who specializes in Medicaid law, works with Elder Advantage to represent clients.

"We advocate for (clients) to get the protections they are meant to receive," Johnson said.

When Medicaid denies an application, a hearing process follows. Sometimes, cases wind up in circuit court. Having someone who specializes in Medicaid law can make a tremendous difference in maximizing benefits and preserving assets, Johnson said.

Elder Advantage has a proven track record of helping families save assets by qualifying for Medicaid benefits sooner. The firm knows the ins and outs to legally and openly help clients preserve assets they would normally lose to a Medicaid spend down, Hawkins said.

"It is normally most beneficial for people to call us for an appointment when they have some sort of a diagnosis or condition which leads them to believe that they may require assistance or even nursing facility care within the next six to 12 months -- or if someone is already in a facility, but not yet on Medicaid," she said.

Hawkins and Johnson conduct a joint initial consultation for free. Establishing a plan and putting it into action takes about 30 days or less.

They said people should think of their services as an aggressive version of estate planning.

Elder Advantage assists with asset preservation, Medicaid representation and veterans benefits.

"Nicole Hawkins and her staff provide knowledgeable and courteous guidance through the bureaucratic maze of these government agencies," one client wrote in a review.

For more information or to schedule a consultation, call 270-684-6757 or go to elderadvantage.org.

Renee Beasley Jones, 270-228-2835, rbeasleyjones@messenger-inquirer.com

Renee Beasley Jones, 270-228-2835, rbeasleyjones@messenger-inquirer.com

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