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4 common Medi-Cal myths debunked

On Behalf of | Jan 20, 2023 | Medi-Cal and Long Term Care Planning

Medi-Cal helps pay medical bills for eligible individuals in California. If you have a low income, are aged or disabled, Medi-Cal will help meet expenses like doctor visits, prescription drugs, hospital stays and other medical services.

Long-term care can get pretty expensive, and it helps to understand how programs like Medi-Cal work if you or a loved one is in need. Not everyone is aware of the requirements or potential benefits of Medi-Cal. Here are some of the widespread misconceptions many ought to unlearn.

Transferring assets will qualify you for Medi-Cal

Property transfers to family or friends at the last minute to qualify for Medi-Cal will not make you eligible. There is a look-back period that applies to such transfers and those done in anticipation of benefits may not be seen to be in good faith. It could trigger a waiting period.

You have to dispose of all your money and assets

You do not have to exhaust all your assets and sell your home to qualify for Medi-Cal. First, there is an asset limit for Medi-Cal eligibility, which means you can own assets within a specific value. Second, not all assets are countable, and you do not have to transfer them or spend down to qualify for Medi-Cal.

You can hide assets to become eligible for Medi-Cal

It is a crime to misrepresent the financial information submitted for Medi-Cal. You also risk losing the assets in question. With the various options available to protect your assets, it is not worth hiding assets to be eligible.

It’s too late to plan for Medi-Cal

When it comes to long-term care planning, the sooner, the better. You are better off doing everything in preparation early enough. However, it does not mean you can’t do anything about it if you or a loved one is already in a nursing facility.

Should you have any questions about the steps you can take to preserve your assets and protect your interests, consider seeking informed guidance to get the correct answers.