What does Callahan Financial Services do?

Callahan Financial Services is a Medicare & Medicaid Consulting Firm serving individuals in New Jersey, New York, and Pennsylvania. We act as your authorized representative, working with the county on behalf of an applicant. We ensure the county processes the Medicaid application per the guideline of Social Services within the specific county we are working within. Each county has its own set of policies and procedures. We advocate for your loved one’s approval.

Who can apply for Medicaid?

Federal law requires states to cover certain groups of individuals, such as low-income families, qualified pregnant women and children, individuals receiving Supplemental Security Income (SSI), or seniors aged 65 or older. Those who meet Medicaid guidelines are eligible to apply.

Can I apply for Medicaid if I own a home?

A primary home is considered an exempt asset only if a single applicant intends to return home. However, if an applicant’s home is no longer their primary residence because they live in a care facility, that home would not be exempt. For married couples, the house is exempt up to a specific limit and only if the healthy spouse remains living in the community.

Will Medicaid take my home?

Medicaid will not take your home. The states can participate in estate recovery whereby upon the death of an applicant and spouse, Medicaid has the option of placing a lien on the house or estate of the deceased. In some cases, there may be ways for a married person to safeguard the estate.

Does Medicaid retroactively approve benefits?

Once approved, Medicaid eligibility goes back to the first day of the month of the application. Also, you can request retroactive benefits up to three months before the application date. To receive approval for retroactive months, the applicant will need to have met the eligibility requirements.

Who can sign the Medicaid application?

The applicant’s signature is preferred. However, if the applicant is unable to sign physically but is aware, he/she can mark with an X, and anyone can witness the signature. The applicant’s Power of Attorney and Designated Authorized Representative can also apply and sign the Medicaid application on behalf of the applicant.

How much money can I have to qualify for Medicaid?

The Medicaid asset limit for an individual is $2,000. The asset limit for a married couple is half up to $130,380 as of 2020.

What are the protections for the healthy spouse?

Under the Medicaid spousal impoverishment provisions, up to half of a couple’s liquid assets, subject to certain limits, can be protected for the “healthy” spouse living in the community. Income belonging to the spouse in the institution can also be set aside for the community spouse’s use. A couple does not necessarily need to spend all their assets to qualify for Medicaid. Many spouses wait too long and apply for Medicaid benefits much later than they could have.

Does Medicaid at Home cover mortgage, rent, or assisted living room and board?

No. Medicaid pays only for services and medical costs.

Federal law prohibits the states from using Medicaid funds to pay costs that are not for direct services. If you need help paying for room and board, mortgage, or rent, state rental subsidies do exist that can help residents of government-funded facilities meet these costs.

Can I switch from Medicaid at Home to Institutional Medicaid?

Yes, you can make a switch by initiating a program change.

Does Medicare cover skilled nursing facility or subacute care?

Yes, if the person meets specific clinical criteria. This includes three-night hospital stays before admission. The maximum Medicare benefit period is 100 days. The first 20 days are covered at 100 percent; days 21 through 100 require a daily co-pay (Most Medi-Gap policies will cover the co-pay).

Are you a law firm?

We are not a law firm. We help families apply and get approved for Medicaid. You do not need a Medicaid lawyer for the Medicaid application process. Our Medicaid and Medicare consultants work directly with Medicaid examiners on behalf of families. It is your right to obtain independent counsel to answer a question about a legal matter. We will work with your attorney, or we can recommend one when appropriate.

Can I use a lawyer instead of Callahan Financial Services Group’s Medicaid and Medicare consultants?

Yes. Many attorneys do offer the same service we do. However, we routinely see the legal community quote $10,000 to $20,000. Our fee is significantly less; we offer various packages depending on your need and your file’s complexity.

The best time to hire an attorney is five years before you need Medicaid to help you plan the allocation of your assets before the “look back” period. The options to protect your assets are minimal if you are applying within the lookback period.

Won’t I save money by filling the Medicaid application myself?

Probably not. If you are like most of our clients, you need to spend down liquid assets to qualify for Medicaid. Medicaid has deemed hiring a company such as ours a legitimate spend down. You may apply for Medicaid yourself, but by doing so, you aren’t saving money. In most cases, the money you “saved” will go to the nursing home or care facility. We can save you 50 to 100 hours and a lot of frustration!

Do you offer a guarantee?

We cannot guarantee Medicaid approvals; we can, however, guarantee our work. We have a 99% approval rating on applications submitted by our Medicare and Medicaid consulting firm. If an error occurs due to a mistake by our firm, we will issue a refund.

Do you have another question not covered on our FAQ page?

Please give us a call. We are happy to answer your Medicaid or Medicare application questions. Feel free to give our Medicaid consultants a call at 973-325-7500 now!