One of the worst mistakes you can make when it comes to planning for the future is overlooking the potential need for Medi-Cal planning. What typically happens is that young, healthy clients assume that planning for long-term care in the future is unnecessary. While being healthy in your senior years is fantastic, that does not preclude you from needing health care assistance later on.
Plan for the Unexpected
You may not have health issues right now as in young age, but can you actually predict how healthy you might be in 40 or 50 years from now? Nonetheless of that you must concern the possibility of unexpected diseases or injuries that could result in medical issues that require long-term care. According to some reports and research more than 2/3 of the population over age 65 will require some type of long-term health care at some point in their lives for these reasons alone, Medi-Cal planning is a better idea for California residents.
It Isn’t Only Those Terminally Ill Who Need Long-Term Care
A common misconception many clients have is that you must be really sick or critically ill to require long-term health care. But no, that is not always the case. Unexpected, serious injuries can also result in the need for long-term care simply to fully recover. In few conditions a particular person are admitted to nursing homes or assisted living centers because of the need for help with daily activities like dressing and mentoring. In fact, this could simply be the result of getting old. There are so many diverse situations that can result in the need for long-term care so you need to be prepared.
Kinds of Available Medicare Coverage
Medicare is divided into two primary plans that provide different types of coverage. Medicare Part A is the insurance plan for health care services provided by hospitals, expert nursing facilities, home health care and hospital care. While Medicare Part B is similar to basic health insurance which provides coverage for doctor visits, casualty hospital care and other medical facilities.
How is Medicaid different from Medicare?
One of the key alterations between Medicare and Medicaid is that Medicaid is an income-based or needs-based health care help program. Federal state and local tax funds are used to assist qualified individuals in paying their medical expenditures. Generally, Medicaid recipients are only required to pay a minimal co-payment for covered medical expenses, if they are required to pay anything at all. Medicaid will generally pay for certain in-home services, but only when a physician certifies that home care services are actually needed for specific medical aims.
Why is Medi-Cal planning so important
The purpose of the advantages Medicaid provides is to help low-income California residents to pay for their medical services. This is because Medicaid is a needs-based program, its recipients must have less than $2,000 in assets. The goal of Medi-Cal planning is to stop the need to exhaust all of your resources in order to become or remain qualified for benefits.