Medicaid Planning for
Long-Term Care
Don’t Let the Cost of Care Drain a Lifetime of Savings
Change can happen quickly. A sudden illness or accident can dramatically alter your or a loved one’s ability to live independently. If you find yourself needing nursing home care or other long-term support, figuring out how to afford that care—especially on short notice—can be overwhelming.
At Lambros Law Office, we help families in Rhode Island and Massachusetts navigate the Medicaid system, understand their options, and preserve as much of their income and assets as possible. If you or a loved one is facing a long-term care decision, the best time to seek guidance is now.
The Rising Cost of Long-Term Care
Long-term care is expensive and growing more so each year. According to Genworth’s Cost of Care Study, the national median annual cost of a private nursing home room exceeded $100,000 in 2019—and continues to rise. Without proper planning, even moderate savings can be depleted in just a few years. That’s where Medicaid can help.
What Is Medicaid?
Medicaid is a joint federal and state program that helps cover long-term care for people with limited income and assets. It offers far more support than Medicare when it comes to nursing home and assisted living costs. But qualifying for Medicaid is difficult without planning. The income and asset limits are strict, and the application process can be confusing and time-sensitive.
Eligibility and Resource Limits
Each state sets its own Medicaid eligibility rules within federal guidelines. In both Rhode Island and Massachusetts, applicants must meet strict asset and income limits to qualify. Most individuals can only keep $2,000 in countable assets. If the applicant is married, the spouse may retain some assets under the Community Spouse Resource Allowance (CSRA), which is adjusted yearly.
Giving away assets to meet these limits can result in penalties, including months or years of ineligibility. That’s why working with an experienced elder law attorney is so important.
What If You Have Too Many Assets?
Many people assume they must spend everything down to qualify for Medicaid. But there are legal strategies available to protect some assets—such as setting up a Medicaid-compliant annuity, creating a properly structured trust, or transferring assets under limited exceptions. Timing matters, and what works in one situation may not apply to another.Giving away assets to meet these limits can result in penalties, including months or years of ineligibility. That’s why working with an experienced elder law attorney is so important.
How We Help
At Lambros Law Office, we help clients with every part of the Medicaid planning process. Our services include:
- Reviewing your assets and eligibility timeline
- Developing a personalized Medicaid strategy
- Preparing and submitting your Medicaid application
- Protecting assets for a spouse or disabled child
- Coordinating with care providers and financial advisors
Frequently asked questions
Yes. The law allows you to protect certain assets if you use the correct legal strategies. Medicaid planning is about ensuring fair access to benefits while following state and federal guidelines.
Often, yes. In both Rhode Island and Massachusetts, your primary residence may be considered exempt—up to a certain equity limit—if you plan to return or if your spouse still lives there.
Transfers made within five years of applying for Medicaid may trigger a penalty period. We can help assess your situation and determine the best course forward.
Each state has its own rules about exempt assets, eligibility thresholds, and spousal protections. We work with clients in both states and tailor our approach to the correct set of laws.
Ideally, at least five years before you might need care. But even if you’re already facing long-term care needs, there may still be options to protect some assets. It’s never too early—or too late—to talk to an attorney.
I decided I wanted to make an impact in people’s lives, so I decided to practice estate planning law. Very important decisions have to be made by individuals during their lifetime to be proactive, to make decisions regarding their long-term care planning, their end of life decisions, where are they gonna leave their assets? How are they gonna leave their assets? So I felt estate planning really gave me the best opportunity to make that important difference in clients’ lives. Estate planning is more than just giving a client a stack of documents. We want to have an ongoing relationship with them so they feel comfortable calling us down the road. So building a strong relationship with our client is really crucial to what we do here. Our goal is to give our clients the peace of mind that they’ve made the right decisions, that they’ve been proactive in their planning.
Let's get started
Medicaid rules are complex, and a mistake could delay your eligibility or result in losing more of your savings than necessary. We help families understand their options, protect what they can, and move forward with confidence.
If you’re facing long-term care decisions, contact Lambros Law Office today to schedule a consultation.
