Elder Law Today Podcast Show #2 The Basics of Medicaid
In the second installment of Elder Law Today Podcast, Yale Hauptman, a practicing New Jersey elder law attorney, explains the basics of the Medicaid nursing home program. Yale explains how this needs-based program works, including the asset and income tests for eligibility. Learn what countable and non-countable assets, Medicaid transfer penalty and lookback period are and why Medicare will not cover most nursing home stays.
Yale also explains why long term care planning must be done well before entry to a nursing home becomes necessary. Congress passed significant changes to the Medicaid laws 2 years ago, known as the Deficit Reduction Act of 2005, changes that the average American is unaware of. Learn why even if you spend down your assets to the Medicaid levels you still may face a Medicaid transfer penalty.
In the second segment, Yale interviews Barbra London of Freedom Eldercare, a licensed home health care agency. Listen to Barbra and Yale talk about the types of services a home health care agency provides and common misconceptions people have about this important resource. They also discuss why, under the new Medicaid laws, hiring an aide directly, rather than through an agency, can trap the unwary and cause a Medicaid ineligibility period.
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To contact Barbra London 201-883-1200 or toll free 866-7 Freedom
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