Potential Impact of Medicaid Cuts (Part 1)
With so many significant changes being proposed, some which have already occurred in the first months of the new Congress and presidential administration, a question I am increasingly being asked by clients and prospects who are or may in the future apply for Medicaid is, “will there even be Medicaid
2025 Medicaid Penalty Divisor
As I have written about frequently in this blog, many of Medicaid’s numbers are updated annually. Most but not all are adjusted in lock step with Social Security’s cost of living adjustment (COLA), which is affected by the rate of inflation. One Medicaid number that doesn’t adjust with Social Security is the
Medicaid Spend Down – More Involved than First Meets the Eye (Part 5)
In this fifth blog post of five, I finish up with Mary’s call to our office about qualifying her mom for Medicaid. Mary thought her mom had very few assets left which could then be transferred to a special needs trust (SNT). Unfortunately, as I have explained in my past 4 posts, Mary
Medicaid Spend Down – More Involved than First Meets the Eye (Part 3)
In this week’s blog post I continue with the story about Mary’s call to our office concerning Medicaid eligibility for her mom. Mary was seeking confirmation that Mom was ready to apply and that the home she purchased for her son 15 years ago could be transferred to the special needs
Medicaid Spend down – More Involved than First Meets the Eye – Part 2
In my blog post last week, I told you about a call we received from Mary concerning Medicaid. As is often the case, Mary initially disclosed what she thought were relevant questions about her mom’s potential eligibility. She was seeking confirmation that the answers she had arrived at were correct and that
Medicaid Spend Down – More Involved Than First Meets the Eye – Part 1
In this week’s post I return to Medicaid and a call we received a few weeks ago. Mary called concerning her mother who is in a nursing facility. Her long term care policy will be exhausted in a couple of months and Mary said she has no other assets. Her reason for calling
Real Estate and Medicaid (Part 3)
In this third post of three, I discuss the impediment to qualifying for Medicaid when an applicant owns two homes. To review, only the primary residence is an exempt asset as long as the applicant or spouse is living in it. The second home is countable towards Medicaid’s asset limit. Selling the home
Real Estate and Medicaid (Part 2)
In my blog post last week, I addressed a common question about Medicaid when someone owns two homes. “Knowing that there is an asset limit in order to qualify for Medicaid but there are also certain exempt assets, can I exempt both homes and still qualify for benefits?” The answer is no,
Real Estate and Medicaid – Part 1
As I have written about many times on this blog, Medicaid is a needs based benefit. Assets must be spent down below $2000. Not every asset, however, is countable. There are exempt or non countable assets. These are assets that do not count against the $2000 limit. Additionally, in the case of married couple the
FinanciallyEligible but Still No Medicaid (Part 2)
In my post last week, I told you that, while our focus in achieving Medicaid eligibility tends to be on the financial part, there are some non financial requirements we must also pay attention to. One is medical eligibility. Another is residency. Medicaid is a combination federal and state program. Federal funds are provided