Irrevocable Trusts and Medicaid – Part 2
In last week’s blog post I was talking about a call I received about Mary, who is now in a nursing home. She has spent her assets towards her care and the only source of payment left is money that was left in an irrevocable trust for Mary’s
Irrevocable Trusts and Medicaid – Part 1
I’ve written about trusts many times on my blog over the years, specifically about how we get many callers asking us to take a look at an existing trust the caller has set up - or that a family member set up for the caller - to
New Medicaid and VA Figures for 2018 #2018Medicaidnumbers
The cost of living adjustment for 2018 for many of the government programs that affect our clients’ lives has been announced so let’s go over those numbers. For 2018, the Social Security Administration announced that Social Security recipients will receive an increase of 2%, after
Medicaid and Annuities (Part 2)
In last week’s blog, I started to tell you about annuities and how unique they are when we are considering Medicaid. In order to achieve Medicaid eligibility, I must spend down my assets to below $2000 (married couple rules permit assets up to, in some cases, $120,900).
Medicaid’s Confusing Treatment of Trusts (Part 2)
Last week I wrote about trusts and how they are treated by Medicaid. Specifically, I am talking about irrevocable trusts. Most people assume that if they have placed their assets in an irrevocable trust, that by itself is enough to protect the assets from having to be spent down
Medicaid’s Confusing Treatment of Trusts
Not a week goes by in which someone doesn’t call us about Medicaid eligibility as it relates to trusts. The question is usually some version of the following, “I transferred assets to an irrevocable trust. Can you confirm for me that those assets are protected and not countable by
The Latest Republican Efforts to Repeal and Replace Obamacare
Several months ago I wrote about the first attempt to repeal and replace Obamacare since the 2016 elections, which failed. The latest attempt, revived by New Jersey Congressman Tom MacArthur, passed thru the House of Representatives. The Senate, in secret meetings that have stirred more controversy, put out its
Assisted Living Medicaid is Still Not Retroactive (Part 2)
Last week I was telling you about an important difference between assisted living Medicaid and nursing home Medicaid. I explained this to my client but she heard – or thought she heard – something different from the facility. I had said that ALF Medicaid is not retroactive, meaning if
Assisting Living Medicaid is Still Not Retroactive (Part 1)
There are some very important differences in the Medicaid regulations and coverage for nursing home vs. ALF Medicaid. ALF Medicaid is a community based “waiver” program. It is not part of the basic Medicaid coverage that all states must agree to provide when they accept federal funds. Rather, this
Dad Gets Knocked Off of Medicaid (Part 2)
Last week I was telling you about John’s dad who was about to be knocked off of Medicaid. His mom had recently died. Her will stated that should Dad survive Mom her estate would pass to him. Included in the estate was the marital home which she was able