2024 Medicaid Penalty Divisor
As I have written about frequently in this blog, many of the Medicaid numbers are updated annually. Most but not all are adjusted in lock step with Social Security’s cost of living adjustment (COLA). One Medicaid number that doesn’t adjust with Social Security is the Medicaid penalty divisor. That is the number by
The Medicaid Spend Down Scramble – Part 1
I have written in past blog posts about Medicaid’s 5 year look back and the need to be familiar with the transactions that Medicaid will be reviewing. We still, however, receive many calls where a quick spend down to Medicaid is necessary. In the case of a married couple where only one
Is There Ever an Easy Medicaid Application? Part 4
In last week’s post I continued to tell you about a Medicaid application which our client characterized as easy but turned out to be not so much. One check deposited into an account we were aware of, then led us to 2 other accounts in another bank that we had
The Home and Not Much Else (Part 2)
In last week’s post I laid out a common fact pattern we see in our office. In short, it’s a case where long term care is needed and there is not much in the way of liquid assets to pay for it but there is a house which the senior owns
2023 Medicaid Penalty Divisor
As I have written about frequently in this blog, many of the Medicaid and VA benefit numbers are updated annually. Most are adjusted in lock step with Social Security’s cost of living adjustment (COLA). With inflation being as high as it has been in many years, the COLA for 2023 was also
How Scrutinizing is Medicaid Really? Part 1
I had a conversation with a client recently about avoiding potential Medicaid penalties if and when she is ready to file a Medicaid application. She asked me a question I get often. “Is there an amount I can gift that is small enough that would not trigger a Medicaid penalty, say for
529 Plans and Medicaid (Part 2) #Medicaid
Last week I was telling you about the problem 529 plans pose for Medicaid. Maria called me to handle her dad, George’s Medicaid application. George had set up 529 plans for Maria’s daughters. Are those accounts countable assets subject to Medicaid’s spend down rules? Last week I explained that
Gifting and the Medicaid Penalty (Part 2)
Last week I was telling you about a recent New Jersey court case which resulted in a 10 and ½ year Medicaid penalty. The family tried to navigate New Jersey’s Medicaid rules on their own and then tried to fix their mistake. It didn’t work. Let’s examine why. To
Family Caregiver Agreements – Acceptable? (Part 2)
Last week we were discussing family caregiver agreements in light of a recent New Jersey Appellate court decision, E.R. v. DMAHS. In that case, Mom and Daughter entered into a caregiver agreement while Mom was living in Daughter’s home. Mom eventually entered a nursing home and applied for Medicaid.
Family Caregiver Agreements – Acceptable?
When having a conversation about long term care and qualifying for Medicaid, every so often the topic turns to paying a family member to care for Mom or Dad. Is it a permitted Medicaid spend down? In many cases the discussion occurs after the services have already been provided