Among the many misperceptions regarding Medicaid and long-term care planning is the myth that asset protection planning and long-term care insurance don\u2019t work well together.<\/p>\n
Unfortunately, many individuals, including many professionals, believe these two planning options are mutually exclusive and that one negates the need for the other. In fact, a carefully planned and cost-effective strategy to guard against the high costs of long-term care often includes both asset protection planning and long-term care insurance.<\/p>\n
When used effectively, Medicaid planning can help individuals reduce prospective costs of long term care insurance, and long-term care insurance can provide certain services that New Jersey Medicaid doesn\u2019t fund. What families need to know is which expenses are worthwhile and which can be cut.<\/p>\n
Those looking for the simplest, least expensive asset protection plan must not forget that even partially implemented plans are often useless. Typically, individuals are concerned about protecting their residences from state liens and are (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Among the many misperceptions regarding Medicaid and long-term care planning is the myth that asset protection planning and long-term care insurance don\u2019t work well together. Unfortunately, many individuals, including many professionals, believe these two planning options are mutually exclusive and…<\/span><\/p>\n