Why we have Medicaid compliant tools to protect your life savings from nursing homes.
Why we have Medicaid compliant tools to protect your life savings from nursing homes.
Attorney Tom Olsen: Robert, a few minutes ago, we were talking about some of the emails with an objection to the government as we are helping people ask the government to pay for their nursing homes so that they don't have to spend all their money on a nursing home. Talk to us some more about that issue.
Attorney Robert Hidock: When the Federal Government created Medicaid, they never intended for someone to have to spend their life-savings all the way down to the poverty level. That's why they've created Medicaid compliant tools which we use here at Olsen Law-Group, to help people legally spend down or transfer their assets to their loved ones. They equate it to the IRS, where the Federal Government assesses your income tax and not everybody will say, "Oh, that's how much I owe, let me cut them a check and pay it." You're allowed to use standardized legal deductions to get your tax debt as low as possible, then you pay that amount. It's the same principle that goes to Medicaid. You have, and we use tools every day to help people spend down their money so they can qualify for Medicaid.
Attorney Tom Olsen: These are Medicaid-compliant tools just like the IRS provision have tax deductions and so forth, things you can use to lower your tax bill, we have Medicaid compliant tools, that can help people to protect their life-savings from nursing homes.
Attorney Robert Hidock: Exactly.
Attorney Tom Olsen: I think the difference is most people understand that there are tax deductions out there. A lot of people are not aware that there are Medicaid compliant tools to protect their life-savings. Their mom or dad needs to go into a nursing home and they say, "Oh, gosh, I got to spend all their money that they've worked for all their life," not knowing that these tools are available to them.
Attorney Robert Hidock: No. I think that the problem is there's a lack of education. There's a lot of fiction out there. That's what we do here at the Olsen Law-Group, we love to educate people. I never tell people I feel like I'm working. [background music] I always tell people I'm either helping or educating people. That's why I would love to invite them to come to one of our workshops where they can get free education about Medicaid.
Attorney Tom Olsen: Okay, Robert, we've got some workshops coming up on how to protect your life-savings from nursing homes. We're out of time, but just call the Olsen Law-Group next week. You'll get the dates and we'll reserve your seat at one of Robert's workshops. Hey folks, my name is Tom Olsen. The name of the show is Olsen on Law. We're going to take a break. We'll be back in just a few minutes.