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For many families in Staten Island and across New York, the idea of needing long-term care someday feels distant—until suddenly, it isn’t. Whether it’s a loved one showing early signs of memory loss or a parent recovering from a serious fall, long-term care often becomes a concern faster than anyone expects. That’s when the topic of Medicaid usually comes up.
If you wait until you’re facing a health crisis, your options may be limited. However, if you start planning early, you can protect your savings, ease the stress on your family, and access the care you deserve without financial devastation. This blog offers an insightful overview of Medicaid planning to help you get started today.
What Is Medicaid, and Why Does It Matter?
Medicaid is a government program that can help pay for long-term care, including nursing homes and home health aides. Unlike Medicare, which covers short-term rehabilitation, Medicaid is one of the primary ways to obtain assistance with paying for extended care in New York.
But there’s a catch: Medicaid is a needs-based program. That means you can only qualify if your income and assets fall below certain thresholds. If your resources are too high, you’ll be denied—unless you’ve taken steps ahead of time to protect them.
Common Myths We Hear About Medicaid
We talk to a lot of Staten Island families who put off Medicaid planning because they’ve heard one of the following:
- “I have Medicare, so I’m covered.”
Medicare doesn’t cover long-term custodial care. - “I’ll just give my assets to my kids if I need to.”
Medicaid has a 5-year lookback period. Gifts made too late can disqualify you. - “I won’t need a nursing home.”
You might not, but home care is costly too, and Medicaid can help cover it.
Waiting too long can result in delayed care, denied applications, or the need to spend down your life savings just to qualify for benefits.
How Medicaid Planning Actually Works in New York
Medicaid planning helps protect your assets while positioning you to qualify for benefits when you need them. Here’s what that might involve:
- Setting up an irrevocable trust: This allows you to transfer certain assets (like your home) out of your name while retaining some control or benefit.
- Gifting assets strategically: With proper timing, gifts to family members can reduce your countable resources, without triggering lookback penalties.
Spousal protections: If only one spouse needs care, Medicaid rules allow for certain protections so the healthy spouse isn’t left impoverished. - Application Support: The Medicaid application process in New York is complex and requires a substantial amount of documentation. Having the right legal support can make it less overwhelming.
Every case is different. That’s why we take the time to get to know you, your financial picture, and your long-term goals before recommending any strategy.
Why Timing Matters
One of the most important things to understand about Medicaid planning is that you can’t wait until the last minute. The 5-year lookback period in New York means that transfers made within five years of applying can result in penalties, potentially delaying your eligibility for care.
That’s why we encourage families to start the conversation early—even if no one in the household currently needs long-term care. Think of it like putting on a seatbelt. You hope you won’t need it, but it’s there to protect you just in case.
Planning early also helps you:
- Protect your family home from being sold to cover care costs
- Preserve savings for a spouse or children
- Avoid rushed decisions during a health crisis
How We Help Staten Island Families Plan with Confidence
At Merlino & Gonzalez, we don’t believe in one-size-fits-all legal plans. We sit down with you, review your options under current New York Medicaid laws, and craft a strategy that reflects your needs and values.
Whether you’re looking to protect a modest home or have more complex assets, we’ll explain everything clearly and guide you each step of the way. Our goal is to give you peace of mind, not just paperwork.
We’ve helped generations of Staten Island families stay in control of their finances while still accessing the care they need. And we’re here to help you, too.
Let’s Talk About Your Future
If you’ve been wondering whether now is the right time to think about Medicaid planning, it probably is. The sooner you start, the more options you’ll have—and the more likely it is that you’ll be able to protect what matters most.
Call Merlino & Gonzalez today to schedule a consultation. We’ll help you understand how Medicaid planning works in New York and put a plan in place that works for you and your family.