Category archives: Medicaid Planning
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3 years ago
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Medicaid is a state- and federally funded health program for lower-income persons of all ages. For applicants who fall into certain categories, Medicaid imposes specific rules on how much income and resources they can have and still qualify for benefits.
Each state has different rul... [read more]
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3 years ago
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If your loved one is entering a nursing home, you may worry whether you could be liable for their care. Under federal law, a facility cannot require a family member or friend to co-sign an admission agreement and take on personal liability. However, nursing homes around the country still try to do s... [read more]
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4 years ago
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Summer is definitely here, and with the celebration of the Fourth of July this month we were reminded of how very fortunate we are as Americans to enjoy the freedoms our great Nation provides us. It's so great each year to take the time to acknowledge and celebrate how blessed we truly are.
While... [read more]
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4 years ago
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If you apply for long-term care assistance through Medicaid and your application is denied, the situation may seem hopeless. The good news is that you can appeal the decision.
Medicaid is a program for low-income individuals, so it has strict income and asset eligibility requirements. Qualify... [read more]
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4 years ago
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When a married couple applies for Medicaid, the Medicaid agency must analyze the couple’s income and assets as of a particular date to determine eligibility. The date that the agency chooses for this analysis is called the “snapshot” date and it can have a major impact on a couple’s financial future... [read more]
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4 years ago
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Medicaid applicants must prove that they have limited income and assets in order to be eligible for long-term care services. Before beginning the application process, it is helpful to understand what information you will be required to provide to prove your eligibility.
Medicaid is a state-ru... [read more]
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4 years ago
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Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.
In order to be eligible for Medicaid, you cannot have recently transferred assets. Congress does not want you to mo... [read more]
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4 years ago
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When most of a couple's income is in the name of the spouse who is receiving Medicaid, the spouse remaining in the community may wonder what he or she will live on. Medicaid has created some protections for the community spouse.
Although Medicaid limits the assets that the spouse of a Medicai... [read more]
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4 years ago
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Medicaid long-term care benefits traditionally pay mainly for nursing home care, but the federal government can grant “waivers” to states allowing them to expand Medicaid to include home and community-based services. The downside is that receiving care in a nursing home is an entitlement, while ... [read more]
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4 years ago
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In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in "countable" assets (the figure may be somewhat higher in some states). Note that Medicaid is a state-run program, so the rules are somewhat different in each state, although there are federal guidel... [read more]
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5 years ago
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One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the financial burden.
Depending on location and level of care, nursing homes cos... [read more]
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5 years ago
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One thing that we've all been reminded of recently is the importance of being prepared for unexpected events that are beyond our control. Having enough food, water, personal supplies, and cleaning products became of paramount importance last year, and we're all much more focused on keeping our car f... [read more]
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