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The Problem

Simply put, long-term care (LTC) is the largest financial risk you will face as you age.

  • 4-out-of-5 people over the age of 65 will need LTC in their lifetime
  • The average cost for LTC is $8,000/month but can exceed $20,000/month in certain cases
  • The cost of LTC has historically increased 3-5% per year

How Will You Pay For Long-Term Care (LTC)?

There are three ways you can cover the cost of the LTC:

  1. Pay out of pocket
  2. Use an existing LTC insurance policy
  3. Apply for Medicaid LTC benefits

Most families tell us they can’t afford to pay the high costs of LTC without risking their life savings. The good news is Medicaid LTC (option #3 above) can drastically reduce the share of LTC costs you and your family will have to pay should the need arise for LTC – for people who are found medically and financially eligible for the program. While Medicaid LTC has strict rules about the amount of income and assets applicants can have in order to be eligible, there are effective and legal strategies we can use for both single and married individuals to get you or your loved one qualified – fast!

The Solution

In general, Medicaid LTC will pay the difference between your income and your cost of care. Medicaid will also allow you to retain some of your income for personal needs, and shift some of your income to your spouse if you're married.

Stronghold Financial specializes in re-positioning assets and income to preserve 100% of these resources for the healthy spouse or 50-75% for the estate’s beneficiaries (children, grandchildren, etc). Our financial strategies are federally approved and 100% safe and legal. Best of all, our hands-on expertise can provide Medicaid LTC financial qualification in an average of three weeks versus the industry average of five months!

What Is Medicaid?

Medicaid for long-term care is a government program which covers what your loved-one can’t afford for as long as they are alive. Medicaid is a federal program administered at the state level. This means that the federal government creates most of the rules about how the program works, and then provides money to each of the 50 states to fund the program.

Every year, each state creates their own Medicaid budget and submits it to the US Department of Health and Human Services. Then, the Department of Health and Human Services matches each state’s budget anywhere from 50%-75%. So, if your state were to submit a budget of, say, $1 billion, the US Government would cut a check for $500 million - $750 million, making the total Medicaid budget $1.5 billion - $1.75 billion for your state. For the most part, this process repeats for all 50 states.

Your Tax Dollars At Work

The federal money comes from your tax dollars. The state money typically comes from a combination of state income tax and sales tax dollars. The important point here is that the taxes you pay go to help fund the Medicaid program. Sometimes people feel guilty taking money from the government. They frequently say they don’t want to be a “burden on society”, or something similar. Our guidance to you is, unless your family is wealthy and can afford to pay out-of-pocket for your loved-one’s care, don’t feel bad about applying for assistance. The program is there to help, and you’ve been contributing to it with your hard- earned tax dollars.

How Is Stronghold Different?

  1. We average three week approval times on Medicaid LTC applications
  2. We preserve and protect your family’s assets and income using a variety of safe and legal strategies
  3. We take the entire process of Medicaid planning and application preparation off your plate – removing the stress and overwhelm from getting the care you or your loved one needs
  4. After you’re approved, we provide you with the ultimate in peace-of-mind as we are the first firm in the industry to manage your Medicaid status on an ongoing basis. This means we work to keep you compliant year-after-year so you won’t lose your benefits
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