If you or a loved one is facing the possibility of long-term care and you don’t have insurance in place, crisis Medicaid planning can be a crucial part of your strategy. While long-term care insurance is one of the best ways to prepare for these costs in advance, Medicaid is often the solution for those who didn’t or couldn’t secure a policy.

What Is Medicaid Planning?

Medicaid is a joint federal and state program that can help cover the cost of long-term care for individuals with limited income and assets. But qualifying for Medicaid can be complex, and applying without proper guidance may lead to costly mistakes or delays in eligibility.

Medicaid planning is the process of organizing your finances and assets in a way that helps you meet Medicaid’s strict eligibility rules, both legally and efficiently.

Medicaid planning is highly specialized and varies by state. That’s why it’s important to work with professionals like elder law attorneys or long-term care planning specialists who understand the rules and tools available.

Why Consider Medicaid Planning?

You may benefit from crisis Medicaid planning if:

• You can’t afford long-term care insurance premiums.
• You’ve been declined for coverage due to health issues.
• You or a spouse needs care soon and insurance is no longer an option.
• You’re looking to protect savings for a healthy spouse or your family.

Even if you think you’re “over the limit” in income or assets, Medicaid planning may help you qualify for benefits you thought were out of reach and protect what you have left.

How Crisis Medicaid Planning Works

Medicaid planning often involves legal and financial strategies to:

• Spend down excess assets in a Medicaid-compliant way.
• Protect a healthy spouse (community spouse) from losing income or resources.
• Convert countable assets into non-countable assets.

One of the most common tools used in crisis planning is the Medicaid Compliant Annuity (MCA).

What Is a Medicaid Compliant Annuity?

A Medicaid Compliant Annuity is a financial product that helps applicants become eligible for Medicaid without giving away assets. It works by turning excess assets into a stream of income with zero cash value. MCAs are used most often in crisis planning when someone already needs care and can help preserve assets for a spouse or heirs while still qualifying for Medicaid assistance.

Even if long-term care insurance isn’t an option, you can still protect what you have left.

If LTCI isn’t the right fit for you, crisis Medicaid planning may still offer a path forward. Speak with an LTC Advocate to learn more.