Onyx - my understanding on Miller is that it deals with their monthly income as it provides a "pass through" for the over the Medicaid limit income to get paid into. Millers about income.
So it doesn't include savings or life insurance which are assets. HOWEVER, for individual NH Medicaid, they have to have their non-exempt assets at a maximum of 2k. So savings need to be properly spent down to get them to Medicaid limits. If the life insurance policy has a cash value, will need to be cashed in and spent down. If the policy has conversion ability, that may need to be done before Medicaid eligibility can happen.
This site has really great articles on the differences on income vs assets; how Medicaid &Medicare work, etc. it's a whole new glossary to get to know about.... Also one of the experts on this site, K Gabriel Heiser, has a easily readable overview book on the maze that is money, Medicare & medicaid. Pretty priceless. You'll need your local elder law atty to do things but at least you'll know better what needs to happen.
So it doesn't include savings or life insurance which are assets. HOWEVER, for individual NH Medicaid, they have to have their non-exempt assets at a maximum of 2k. So savings need to be properly spent down to get them to Medicaid limits. If the life insurance policy has a cash value, will need to be cashed in and spent down. If the policy has conversion ability, that may need to be done before Medicaid eligibility can happen.
This site has really great articles on the differences on income vs assets; how Medicaid &Medicare work, etc. it's a whole new glossary to get to know about.... Also one of the experts on this site, K Gabriel Heiser, has a easily readable overview book on the maze that is money, Medicare & medicaid. Pretty priceless. You'll need your local elder law atty to do things but at least you'll know better what needs to happen.
http://www.thehalelawfirm.com/faqs/what-is-a-qualified-income-trust-qit/