Change is in the Wind: Plan Now, Get Grandfathered In!

As the year 2019 comes to a close, state lawmakers have a predicament on their hands.

As columnist Fred LeBrun reported in the Times Union, New York is facing multi-billion dollar deficit in 2020. The primary reason? Unexpected cost overruns in New York’s Medicaid Program, which provides long-term care benefits to the poor, and for those who have planned ahead.

How does this affect you?

If you or your loved ones are planning to use the Medicaid program, this deficit could impact you plenty if lawmakers make budget cuts or changes to Medicaid eligibility.

In this Life Happens Radio podcast, attorneys Lou Pierro and Frank Hemming explain how the deficit happened, and the crucial steps you can take now to get out in front of it.

“The key word,” says Pierro, “is grandfathered. The trusts and arrangements you make today will be grandfathered in to the system before the budget axe falls.”