It’s natural to have questions about Medicaid. Some of them are related to qualifying. Others are related to how to best use this coverage. It’s important that you focus on the facts and leave the myths behind. You don’t want one or more of these to sneak up and cause you harm.
Here are three of the most widely circulated Medicaid myths.
1. Medicaid is for everyone
There are strict eligibility requirements for Medicaid. Understanding these will help you determine if applying for the program is worth the time and effort. If you find out that you don’t qualify right now, you may be able to adjust your lifestyle to qualify in the future. Just remember that Medicaid isn’t for everyone.
2. Medicare is a replacement for Medicaid
While the name is similar, Medicare and Medicaid are two entirely different healthcare programs. It’s a myth that you can’t have both types of coverage.
3. Medicaid planning is simple
Qualifying for Medicaid coverage is very rarely as simple as completing an application and waiting for an approval. There’s more to it than that. For instance, your assets are closely reviewed to ensure that they don’t exceed the allowable amount. But that doesn’t mean you can simply hide your assets or give them away.
So, what can you do?
These myths, among many others, have the potential to hold you back from receiving the coverage you deserve. Rather than let these get in your way, it’s best to consult with an experienced and knowledgeable estate planning and Medicaid attorney.
With an attorney on your side, there’s always someone to answer your questions and provide the guidance you require. Contact our law firm online or via phone at 817-899-3286 to discuss your situation with a Medicaid planning attorney. We’re here to help you make sense of all things Medicaid-related.