Category archives: Medicaid Planning
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2 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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2 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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3 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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3 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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3 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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3 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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3 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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3 years ago
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For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets. If you do not plan properly, IRAs can count as an available asset and affect Medicaid eligibility.
Medicaid applicants can have only a small amount of assets in order to be eligible to receive... [read more]
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3 years ago
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Medicaid planning can be a difficult and confusing process. The following are some common mistakes people make when planning to apply for Medicaid.
Thinking it's too late to plan. It's almost never too late to take planning steps, even after a senior has moved to a nursing home.
Giving... [read more]
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3 years ago
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We are living in a time of change and ongoing uncertainty. During the last month we experienced a change in U.S. government leadership from the Trump to the Biden Administration, and with this change comes the potential for new policies that may potentially affect many aspects of our lives, includin... [read more]
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3 years ago
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Do you need an attorney for even "simple" Medicaid planning? This depends on your situation, but in most cases, the prudent answer would be "yes."
The social worker at your mother's nursing home assigned to assist in preparing a Medicaid application for your mother knows a lot about the progr... [read more]
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4 years ago
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The coronavirus relief bill includes a direct payment to most Americans, but this has Medicaid recipients wondering how the payment will affect them. Because the payment is not income, it should not count against a Medicaid recipient’s eligibility.
The Coronavirus Aid, Relief, and Economic Se... [read more]
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