There are several benefits, however, to using these benefits that extend beyond employer-covered insurance. These programs are designed to improve access to care beyond what is generally accessible, and it is not taking advantage to make sure your children get the best care available.

Another common misconception is that Medicare and Medicaid are only for physical illnesses or conditions. But they both offer services to people in need of behavioral and psychiatric health care. Although there are limits, copays, and lifetime maximums, these resources can help bridge the gap between the care your child or teen needs and the care currently available without access to public benefits.

Medicare Coverage

Medicare covers a variety of mental health services for both outpatient and inpatient care. For outpatient care, Medicare Part B includes a review of depression risk factors, depression screenings, psychiatric evaluation for mental health illnesses and the resulting care plan, diagnostic tests, group or individual psychotherapy, family counseling for mental health treatment, medication management and some prescription drugs, partial hospitalization for mental health issues, and testing and wellness visits.

For inpatient care, Medicare Part A covers services that require admission to a hospital for psychiatric care. Psychiatric hospital stays are covered for 190 days of inpatient services, but mental health services in a general hospital can be covered beyond that timeframe.

Medicaid Coverage

Colorado’s Medicaid program is called Health First Colorado. For covered behavioral health diagnoses, benefits range from community treatment to case management services, to drug screening and monitoring, to school and day treatment services for children. Other insurance must be used first, but there are no co-pays for services rendered through Health First Colorado organizations.

An experienced estate planning attorney can also help with public benefits planning. This planning will protect your family’s assets while ensuring your loved ones can qualify for the care they need. A child experiencing mental health issues can be stressful and difficult for a family to endure. Taking care to minimize the financial strain while ensuring your children get the best care possible will alleviate some stress and allow you to prioritize the well-being of your teen or child.

Speak with a Boulder, Colorado, Estate Planning Attorney Today

Contact us for information about Medicare and Medicaid eligibility. Braverman Law Group is here to help clients with benefits planning, estate planning, and many things in between. To schedule a free, no-obligation consultation with one of our trusted Boulder estate planning attorneys, give us a call today at (303) 800-1588.

In Colorado, the Medicaid income limit for 2021 is generally $2382. Persons who generate more than this amount of income will not be eligible for Medicaid assistance in paying for long-term care or nursing home costs. Most long-term care facilities and nursing homes will cost substantially more than this amount for care, and many people with income above the limit will be unable to afford the care they need without additional assistance. With the help of a Colorado estate planning attorney, however, people in need of care may be able to use what is called a qualified income trust to sequester some of their income for care costs while still maintaining Medicaid eligibility and receiving federal benefits.

A qualified income trust, also known as a Miller trust, is a specific legal instrument that is used to manage a person’s income. Income that is deposited in the trust account is not counted toward the income limit for Medicaid eligibility. Miller trusts require a trustee to be appointed to manage the income and expenses of the account. In order to successfully establish a qualified income trust, a person must meet the other requirements for Medicaid eligibility, including a medical need for care, as well as owning less than $2000 in countable assets.

After a Miller trust is established in Colorado, all or part of the person’s income will be deposited into the trust account and can be used only to pay for the beneficiary’s share of their care and certain specific allowances. Any excess money remaining in the trust account on a monthly basis is allowed to stay in the account; however, upon the death of the beneficiary, the state of Colorado has priority to recover any expenses that Medicaid paid on behalf of the beneficiary. If there is a remaining balance in the trust account after the state has recovered its expenses, the other trust beneficiaries are entitled to that amount.

Contact a Colorado Estate Planning Attorney

Drafting trust documents and establishing the necessary accounts for long-term care or end-of-life plans can be a complicated endeavor. If you want to ensure that you can afford long-term care, reaching out to the experienced Boulder estate planning attorneys at Braverman Law group with your concerns can help you find peace of mind. We can advise you on the possibility of using Medicaid to help cover long-term care or nursing home expenses. Our lawyers have decades of experience assisting clients with estate plans. To schedule a free consultation and to speak with one of our qualified attorneys, give us a call at 303-800-1588 today.

Home Care

Home-based care allows individuals to stay at their home—or that of a loved one—and live as independently as possible. Home-based care primarily involves personal care, such as help taking medication, bathing, and daily activities. For the most part, family members, spouses, friends, and neighbors provide this care.

However, these services can also be provided by paid caregivers like healthcare professionals on a part-time basis. The primary goal of home-based care is to ensure people can remain safe, while still giving them the independence of living in a familiar environment. When it no longer is safe for someone to remain at home, seniors will often explore other long-term care options.

Assisted Living

Assisted living is a housing facility for individuals who no longer wish to live on their own but do not require around-the-clock medical care. For the most part, people in assisted living facilities are healthy and only require minor medical assistance and supervision. However, assisted living facilities will have health care and personal services—such as bathing or chronic illness treatment—available for those residents who need it.

Additionally, seniors in these facilities often have more independent living areas, such as separate apartments with shared kitchens and living rooms. Assisted living facilities are well known for their recreational activities, so seniors can interact and be part of a social community.

Nursing Home

For those seniors who require more intense medical care—especially if they have a severe health issue—a nursing home might be the right option. Staff in nursing homes provide constant care for their residents and have greater access to rehabilitative and healthcare services. Nursing home residents often need more intensive supervision and healthcare treatment, including physical therapy, using the restroom, and dressing. Because of the extensive care required, the average cost of staying at a nursing home is approximately twice that of an assisted living facility. While many nursing homes have common spaces for residents to interact, there is less of a focus on recreational activities and the sense of community.

Because the best long-term care solution depends on an individual’s particular circumstances—including their health, savings, and age—individuals thinking ahead for their long-term care should contact an experienced estate planning attorney in their area.

Contact a Colorado Estate Planning Attorney

If you or a loved one is curious about the long-term care options available to them, contact the Colorado estate planning attorneys at the Braverman Law Group. With years of experience creating estate plans and advising families on how to plan ahead for long-term housing and care options, our attorneys will take the time to ensure your needs are met. Planning ahead for the future can be stressful, but by speaking with us, we will take the time to explain your options and answer any questions you may have. To schedule a free consultation, call us today at 303-800-1588.