One area that causes a lot of confusion regarding Medicaid is the lookback period. What exactly does it mean for applicants? Unlike Medicare, Medicaid is a means-based program. In other words, you are only eligible for Medicaid if you have very few assets. The government does not want you to transfer all your assets on […]
The Look-Back Period: What You Need to Know About Medicaid Penalties Read More »
One area that causes a lot of confusion regarding Medicaid is the look-back period. What exactly does it mean for applicants? Unlike Medicare, Medicaid is a means-based program. In other words, you are only eligible for Medicaid if you have very few assets. The government does not want you to transfer all your assets on
The Look-Back Period: What You Need to Know About Medicaid Penalties Read More »
Federal law requires each state to attempt to recover long-term care benefits from Medicaid recipient’s estates after their death. This is known as Medicaid estate recovery. If a Medicaid recipient had failed to protect their house, it may need to be sold to settle the claim. Who Does the Medicaid Estate Recovery Program (MERP) Affect?
Medicaid Estate Recovery and Payback Rules Read More »
Estate administration is the process of managing and distributing a person’s property (the “estate”) after death. If the person had a will, the will goes through probate, which is the process by which the deceased person’s property is passed to his or her heirs and legatees (people named in the will). The entire process, supervised
The Basics of Estate Administration Read More »
Spousal impoverishment is a concern for older couples when one spouse needs long-term care and applies for Medicaid. If one spouse requires care in a skilled nursing facility and the other remains at home, the spouse at home might face significant financial hardships. The high costs of nursing homes combined with Medicaid’s strict income and
What is Spousal Impoverishment in Medicaid Planning? Read More »
A diagnosis of dementia, a category of diseases affecting memory and thinking that includes Alzheimer’s disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or Alzheimer’s does not mean that you cannot execute legal
After a Dementia Diagnosis: Preparing for the Future Read More »
In today’s world, it is crucial to have healthcare insurance. So, it can be concerning if your application status is still “Medicaid Pending.” Medicaid Pending status means that your Medicaid application or your parent’s application has not yet been approved or denied. Essentially, your application is in limbo. Here is why this status is important:
Navigating Medicaid Pending, Denials, and Appeals Read More »
Older people may need a trusted individual to step in and manage their affairs, should they ever suffer debilitating health problems like dementia, Alzheimer’s disease, and strokes. Adult guardianship can provide protection and assistance with certain decisions for an incapacitated individual — known as a “person under guardianship” — who may become unable to make
Rights Retained by Adults Under Guardianship Read More »
A Medicaid Asset Protection Trust (MAPT) is one option in the area of Medicaid Planning a person may consider to protect their assets from Medicaid and nursing homes or long-term care. What Is a MAPT? A MAPT is an irrevocable trust created during your lifetime. (Note that you cannot revoke irrevocable trusts after you have
Pros and Cons of a Medicaid Asset Protection Trust Read More »
The aging U.S. population means that more people will likely need nursing home care in the coming decades. Meanwhile, the cost of nursing home care is increasing — and expected to keep increasing. With the exorbitant cost of nursing home care, many families worry about depleting their loved ones’ life savings to pay for the
Protecting Your Parents’ Assets from Nursing Home Costs Read More »
