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Medicaid Planning Strategies for 2023

Medicaid Planning Seminar | Boca Raton, FL | Call 561-955-8515

New year, new challenges. Medicaid laws change frequently, and this year is no exception. The new year is a great time to seek the counsel of an experienced Elder Law and Medicaid Planning Lawyer to assist you with qualification and compliance with Florida’s Medicaid rules and regulations.

A Medicaid Planning Lawyer can provide guidance on protecting you from losing your assets to medical costs as you age. If you are currently enrolled in Medicaid, it would be wise to speak with an attorney. There are new legislative changes that may affect your enrollment. Now is the time to be proactive and start looking at Medicaid Planning 2023 changes and how they impact you with the help of a South Florida Medicaid Planning Attorney.

What is Happening With Medicaid in 2023?

Medicaid, the medical expense assistance program that many Americans rely on for medical care, is a federal program that differs from state to state. The Public Health Emergency caused by the pandemic of 2020 prompted the Families First Coronavirus Response ACT (FFCRA), which required states to ensure continuous Medicaid enrollment in exchange for funds from the federal government.

As the pandemic and the Public Health Emergency winds down, the Consolidated Appropriations Act was enacted in December of 2022, which will change the Medicaid continuous enrollment provision and the Federal Medical Assistance Percentage (FMAP) increase. According to this new regulation, states must “end enrollment of ineligible beneficiaries on or after April 1, 2023, after a full renewal is conducted during the state’s unwinding period, no matter when the COVID-19 PHE ends.”

If you are concerned that your enrollment may end, please call the offices of The Siegel Law Group, P.A., to discuss your situation and your options with one of our experienced Medicaid Planning attorneys.

This new legislation will lead to unenrollment and re-determination for some current Medicaid recipients in Florida. A Medicaid Planning Attorney knowledgeable in Medicaid Qualifications can explain what is happening, devise a solid Estate Plan to protect your hard-earned assets, and ensure you and your loved ones receive the protection you need. If your benefits are denied or canceled, the attorneys at The Siegel Law Group, P.A., can help you to maintain your benefits and/or reapply if necessary.

Medicaid Eligibility Changes for 2023

In addition to this new legislation, income eligibility for Medicaid has also been updated this year. In the state of Florida, seniors over 65 eligible for long-term care Medicaid must meet all the following requirements:

  • Income under $2742 a month
  • Assets under $2000
  • Require nursing home-level care

Some other new eligibility rules for 2023 include a spousal asset allowance of up to $148,620 and an increase in the home equity cap to $688,000. A knowledgeable Medicaid Planning Attorney can explain these eligibility requirements in greater detail. If your income and assets do not fit into these guidelines, it will be beneficial for you to meet and discuss options with an experienced Medicaid Planning Attorney who is well-versed in planning for the future and how your medical needs can be covered.

Florida’s Medicaid financial eligibility is based on your assets. Some assets are counted, and others are not. An experienced Medicaid Planning Attorney will be able to help you navigate through this confusing process. They will evaluate your situation and guide you through the Medicaid qualifying process. Medicaid financial eligibility usually benefits those having low incomes and fewer assets.

If you or a family member needs home care, assisted living or nursing home care, Medicaid benefits will help. The team of professionals at The Siegel Law Group, P.A., can assist you with the qualification process and make sure you comply with Florida’s Medicaid rules to receive the medical care your or your loved one needs.

In addition to this new legislation affecting Medicaid, some changes to Medicare may also be helpful for you. An experienced Medicaid Planning Attorney can also fill you in on the Medicare changes for 2023.

Here are some notable Medicare changes for 2023:

  • Hospital Deductible: $1,600
  • Hospital Co-Insurance: $400/day (applicable on days 61-90 of stay)
  • Skilled Nursing Facility Coinsurance: $200/day (applicable on days 21-100 of SNF stay, if medically eligible)
  • Medicare Part B Premiums – $164.90 (reduced from $170.10 in 2022)

Medicaid Planning Attorneys at the Siegel Group have the expertise and knowledge to advise you on various government benefit programs, including Medicaid, Medicare, Social Security, Veterans Benefits and other unique Estate Planning issues.

Call THE South Florida Medicaid Planning Attorney – Barry Siegel, for Medicaid Planning Advice and Guidance

A Medicaid Planning Attorney can help create an Estate Plan, including specific language and appropriate legal documents to enable you to qualify for Medicaid Planning 2023 benefits changes while preserving your hard-earned assets and estate for your family members and provide Peace Of Mind for you and your family.

Call the office of The Siegel Law Group, P.A., at 561-576-6206 to schedule a complimentary consultation, or submit our online contact form to schedule a consultation today. If you have any questions, do not hesitate to contact us.

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Medicaid Planning Attorney | Boca Raton, FL | Call 561-955-8515

Now is the time.

Protect yourself and those you love.

At the Siegel Law Group, we help South Florida families, seniors, and their loved ones prepare for the future.

Whether you need to create or update your estate plan, are preparing for long-term care, have a loved one entering or in a nursing home, or need to develop a strategy for your business, we are here to assist you.

Take your first step by contacting us for a complimentary consultation today.

Estate Planning Checklist | Boca Raton, FL | Call 561-955-8515

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