Certified Medicaid Planner vs. Other Advisors
When a family starts looking for help with Long-Term Care Medicaid, they quickly find that many kinds of professionals offer it. A financial advisor may mention Medicaid planning. The nursing home may suggest a company that files applications. A friend may recommend a care manager or an elder law attorney. Each can play a useful role, but they are not the same, and their training, rules and ways of getting paid differ.
This guide compares a Certified Medicaid Planner™ (CMP™) with the other advisors families most often meet: financial advisors, elder law attorneys, care managers and Medicaid application companies. It explains what each typically does, where each fits, and how to tell whether someone has specific, tested knowledge of Long-Term Care Medicaid.
Figures change periodically. Double-check current amounts before relying on them.
Why the comparison matters
Long-Term Care Medicaid planning sits where several fields meet: law, finance, social work and government benefits. That is why so many types of professionals offer help. It also means a family can end up with someone who is strong in one area but not in the Medicaid rules themselves.
The CMP credential was created for exactly this field. To earn it, a professional must pass a 160-question exam covering 15 Medicaid planning subject areas, agree to the CMP™ Ethical Principles, and complete continuing education, including ethics, to keep the credential. See How to become a Certified Medicaid Planner.
An important point: a CMP is not a separate profession that replaces the others. CMPs come from many backgrounds, including law, financial services, care management, social work, accounting and Medicaid casework. So the most useful question is often not “CMP or financial advisor?” but “Does this financial advisor (or attorney, or care manager) also hold the CMP credential?”
At a glance
| Main focus | Medicaid-specific credential required? | Can give legal advice? | How usually paid | |
|---|---|---|---|---|
| Certified Medicaid Planner | Long-Term Care Medicaid eligibility, planning and applications | Yes, the CMP credential itself | Only if also an attorney | Varies; ask for the fee in writing |
| Financial advisor | Investments, insurance, retirement income | No | No, unless also an attorney | Fees, commissions or both |
| Elder law attorney | Legal matters for older adults, which may include Medicaid | No (a law license is required; some also hold the CMP) | Yes | Flat or hourly legal fees |
| Care manager | Arranging and overseeing care; family support | No | No | Usually hourly |
| Application company | Preparing and filing Medicaid applications | No | No | Varies; sometimes paid by a facility |
The rest of this guide looks at each in turn.
CMP vs. financial advisor
What a financial advisor does. Financial advisors help people invest, plan for retirement and buy insurance. Some focus on older clients and know a great deal about how long-term care is paid for.
Where the overlap is. Medicaid planning can involve financial decisions: which accounts to spend first, whether an annuity fits, how to handle life insurance or retirement accounts. A financial advisor can be a valuable member of the team for these steps.
Where they differ.
- A financial advisor’s training and licenses focus on investments and insurance, not on Medicaid eligibility rules. A CMP has been tested on those rules, including asset limits, spousal protections, the look-back, trusts and estate recovery.
- Some financial advisors are paid partly through commissions on products. That is not wrong in itself, but it can create a conflict when a product is part of a Medicaid plan. Ask how the advisor is paid and whether any product they recommend earns them money.
- Advice that is sound for retirement can be harmful for Medicaid. For example, moving money to family or into some kinds of products can trigger a penalty under the look-back.
Good to know. The CMP board allows a securities license, a life and health insurance license or the CFP® designation, plus experience, as one route to qualify. So some financial advisors are also CMPs. If yours is, they have taken the Medicaid-specific exam and agreed to the CMP ethics rules.
CMP vs. elder law attorney
This comparison is covered in detail in What is a Certified Medicaid Planner?, so here is the short version:
- An elder law attorney holds a state law license and can give legal advice, draft trusts, deeds and powers of attorney, and represent a family in a contested hearing.
- A CMP who is not an attorney cannot give legal advice or draft legal documents, and some states limit what non-attorneys may do in Medicaid planning.
- Some elder law attorneys are also CMPs, combining a law license with the credential’s focus on Medicaid.
- In many cases the two work as a team, with the CMP coordinating the plan and application and the attorney handling the legal pieces.
CMP vs. care manager
What a care manager does. A care manager (sometimes called a geriatric care manager or aging life care professional) is usually a nurse, social worker or similar professional. They assess a person’s needs, find and coordinate care, visit facilities, advocate with providers and support the family through difficult decisions.
Where the overlap is. Care managers know the care system well and often know which facilities accept Medicaid. They can be a great help in choosing a nursing home, setting up home care or deciding when more care is needed.
Where they differ.
- A care manager’s focus is the care itself. A CMP’s focus is paying for care through Long-Term Care Medicaid: eligibility, planning and the application.
- Most care managers do not design asset or income strategies for Medicaid, and many do not file applications.
- Care managers are a natural partner for a CMP. One handles the care plan; the other handles the financial and eligibility plan.
Good to know. Geriatric care management and social work are among the fields that count toward the CMP experience requirement, so some care managers are also CMPs.
CMP vs. Medicaid application company
What an application company does. Some businesses specialize in preparing and filing Medicaid applications. Some work directly for families, and some are hired by nursing homes to help residents apply.
Where the overlap is. Gathering records, filling out forms, answering verification requests and following up with the caseworker are all part of what a CMP does too.
Where they differ.
- Filing is only one part of Long-Term Care Medicaid. An application company may not look at planning questions such as protecting the spouse at home, the timing of the application or how to handle past gifts.
- When a company is paid by the nursing home, its main job may be getting the bill paid. That goal often lines up with the family’s, but not always, for example when planning could protect more for a spouse.
- No credential is required to run an application company. Ask whether anyone on staff is a CMP.
- Applying is free. You can file with your state Medicaid agency yourself at no cost, and free help with forms is available from the state, the nursing home’s business office and the State Health Insurance Assistance Program (SHIP). Be wary of paying a fee only to submit forms. See How to apply.
How to choose
Ask yourself what you need most:
- Mostly help with care decisions? A care manager may be the right first call.
- Legal documents or legal advice? You need an attorney, ideally one with Medicaid experience.
- Help with investments or insurance? A financial advisor, with care about how their advice affects Medicaid.
- A simple application, no spouse, no gifts, modest assets? Free help with forms may be enough.
- A plan to qualify for Long-Term Care Medicaid while protecting what the law allows, plus the application? This is the core of what a Certified Medicaid Planner does.
For many families, especially married couples, families with a home or past gifts, or anyone facing a denial, the best approach is a team, with a CMP coordinating the Medicaid plan and other professionals handling their parts. Whoever you choose, check whether they hold the CMP credential. You can do this with the CMP Governing Board, the organization that grants the credential, and ask the planner for proof of current certification.
Questions to ask any advisor
Whatever their title, ask:
- Do you hold the Certified Medicaid Planner credential? If not, what Medicaid training do you have?
- How much of your work is Long-Term Care Medicaid, and in our state?
- What will you do, what will you not do, and who handles the rest?
- How are you paid, and do you earn anything from products you recommend?
- Will you put the scope and fee in writing?
For a full list, see Questions to ask a Certified Medicaid Planner before hiring.
Related guides
- What is a Certified Medicaid Planner?
- Benefits of working with a Certified Medicaid Planner
- How to become a Certified Medicaid Planner
- Questions to ask a Certified Medicaid Planner before hiring
- How to apply for Long-Term Care Medicaid
Last updated for 2026. General information only, not legal or financial advice. Medicaid Answers is a free educational resource published by Medicaid Answers Foundation.