New York Estate Planning & Elder Law Blog
New York State has the largest Medicaid system in the country. As most know, Medicaid is a joint state-federal program that provides healthcare to low-income residents. Unlike Medicare (which is a program exclusively for seniors based on their age), Medicaid is for all those who do not have enough assets to pay for the insurance they need out-of-pocket.
Medicaid provides general health care to residents of all ages. In addition it acts as the primary public provider of support for seniors in need of a nursing home stays or other elder care. Considering that each kind of support comes from the same pool of Medicaid money, it is useful for those reliant on the Medicaid system to keep up with all matters that affect the overall budget. In other words, any NY Medicaid budget issues may eventually affect elder care and support options.
Federal Government Adjustment
For example, earlier this month the New York Times reported on an apparent rough agreement in principle between Governor Cuomo and the federal government on a sizeable “adjustment” to federal payments to the state.
All told, the state may receive anywhere from $8 to 10 billion more in federal funding. Essentially the agreement refers to a state waiver that allows New York officials to reallocate various funds. The hope is that the money will be used to keep certain hospitals open that were slated to close or were in dire financial straights. The hospitals in question were located in Brooklyn. Officials note that the federal waiver will also affect health care delivery options throughout the state.
Then again, state and city officials have been careful not to fully commit to any use for the extra Medicaid funds. It is unclear if facilities will re-open in the exact same form as today or be adapted. At most, policymakers explain that the money will be used to “transform” health care in the state–leaving open much wiggle room.
New York Medicaid
If you have questions about qualifying for Medicaid in New York, be sure to contact an experienced New York Medicaid attorney who can walk you through the steps.
Unfortunately, it is often only when a loved one has a suffered a swift decline or sudden medical emergency that many are confronted with the need to enter a nursing home. Once learning of the staggering cost, many residents turn to the Medicaid system. But even if your loved one is on the proverbial “nursing home doorstep” there may be options to save some assets while still eventually qualifying for support. An experienced professional can explain the details in your case.