Follow
Share
This question has been closed for answers. Ask a New Question.
Ask Medicaid in your state as each state has its own requirements.
Helpful Answer (1)
Report

Medicare can be very tricky. I do agree, check with your state as it varies. I got the help of a counselor from a home healthcare network, which knew the in's and out's that I was not aware of. My brother and I had to do a "Lady Bird" Deed with my mother's house so that she did not have too many assets. Once you get through all of the red tape it is definitely worth it.
Helpful Answer (0)
Report

What's a "lady Bird" deed?
Helpful Answer (0)
Report

While there are some variations from state to state, the basic qualifications for Medicaid are determined under federal law. The most basic rule is that the person applying for Medicaid cannot have more than $2,000 in countable assets. This excludes the home, car, personal items, furniture, etc. There is also an income limit, but that is almost never an issue.
Because of the complications, you may wish to educate yourself not just on the rules, but on how you can plan to qualify for Medicaid so you do not waste your money through mistakes. That is exactly the reason I wrote my book How to Protect Your Family's Assets from Devastating Nursing Home Costs: Medicaid Secrets (www.MedicaidSecrets.com). The brand-new 2015 edition should be available in a few days. Good luck with everything!
Helpful Answer (0)
Report

I do not know what kind of expert that is above. Assets are no longer the principal determining factor for Medicaid qualification, but your income IS used to determine your eligibility, no matter what state you are in. Under Obamacare, the rules for Medicaid eligilbity have changed. You CAN still own your home outright and not have to lose it or sell it or use some other trick to transfer that asset into someone else's name to protect it. However, it has to be done properly, and you ABSOLUTELY need an attorney that is well versed and experience in protecting assets to handle this for you. That part has NOT changed -- an attorney can make sure it is done properly. There's too much old and inaccurate info out there for you to figure this out on your own.
Helpful Answer (2)
Report

No one mentioned the 5 year look back. You can't just turn over assets to a family member or say I went to the racetrack and lost all my savings.

There is a detailed audit that would rival the IRS.

In cases where one spouse is trying to place another spouse in a NH and have Medicaid pay for it, the spouse is allowed to keep a certain amount of money(I believe it is around 110 K now), the house, the car. But you can't have more than that.
Helpful Answer (1)
Report

A lady bird deed has to be drawn up by a lawyer. It deeds the house to whomever the house would be willed to but it stays in the possession of the owner until the time of their death. It takes the home away as an asset but it is not considered turning over an asset.It also removes it from their will and there are no inheritance taxes. I don't know to whom you are looking into this for or what is the mental state of that person, but as long as the lawyer who interviews them deems them capable it can be drawn up. My mother has Alzheimer's but we were still able to have this done. It really helps as far as assets go when it comes to qualifying for Medicare.
Helpful Answer (0)
Report

Medicaid Programs are governed by Federal Law but each State has its own eligibility criteria. If a person meets Functional Eligibility standards they can recieve Medicaid services while they own a home. Upon that person's death or the death of the surviving spouse, Medicaid places a lein on the property and will recoup funds that have been paid out. These Estate Recovery Laws will vary by State the person lives in and own property in.
Out of state property that is not the person's primary home would make a recipient NOT eligible for Medicaid. There is a 5 year look back to make sure that no financial assets have been Divested. Some people choose to Divest and then either serve the penalty period or wait 5 years.
There are other ways to protect assets for a surviving spouse who is eligible to retain all of their own assets and 50% of the joint assets up to a certain $ amount.
See an Estate planning attorney in your State for specifics and how to plan for the future.
Helpful Answer (0)
Report

You may qualify for Medicaid all day long, but your deductible may be higher than just hiring someone straight out. My Mothers Medicaid deductible is one thousand a month. This amount is deducted from the Aids check and my mother has to pay her the first thousand dollars out of pocket. This presents a problem because my mother refuses to make the payment. We are in the State of Virginia which turned down the program that pays the the state to expand Medicaid. This deductible presents a major obstacle in her ability to find care.
Helpful Answer (0)
Report

The important point is that many more people covered by Medicare are now also eligible for Medicaid, and that assets NO LONGER AUTOMATICALLY DISQUALIFY from someone from Medicaid coverage, as the case used to be. Income can be (and always been) used to disqualify people that clearly can afford to pay for their own care. The goal of the changes was to address the problem with people having to disgorge themselves of all their assets to illegally (and unethically) obtain Medicaid coverage, as so many people have done over the years. No one ever or intended for people to lose their homes to get medical care in their old age - it just turned out that way. The recent changes are, of course, not enough, and there's still a long, long way to go. Because each state has it's own interpretation and implementation of the federally funded but state-managed Medicaid program, and the rules are still very tricky about certain assets, it's absolutely essential that people seek the advice of attorneys that do nothing but protect assets. These are specialists -- an estate planning attorney that tells you he or she can do this too, is probably justing boasting and won't necessarily get you the same results that an attorney who specializes in this can get for you. No one on this, or any of forum can accurately tell anyone what the requirements really will be, as each application is unique and there are now a lot more exceptions and ways to appeal denial determinations.
Helpful Answer (2)
Report

Neveralone, It's Medicaid that you are referring to ( a state- sponsored program), not Medicare. Medicare is easy. With Medicare, no need for assistance of any type. You turn 65, you call the 1-800 number for Medicare, give them your S.S.number, and voila! Your'e in with Medicare. They'll send you a red, white and blue card and from that point you decide what you want to do with it.
Helpful Answer (0)
Report

We live in Texas and my husband has Alzheimers which is progressing. I'm familiar with the keeping of car, home, personal things, but I'm not sure about my income. I still work full time in order to pay our bills. Plus we both collect social security. I know that his social security will go toward the facility he ends up living in, hopefully an Alzheimers/Memory Care facility. Can Medicaid attach my social security and income in any way. I won't be able to make ends meet if this is the case. Does anyone know about this?
Helpful Answer (0)
Report

I am not sure about a deductible, if someone is in a nursing facility or assisted living facility and Medicaid is the payor source, they most of their income must go toward their cost of care. There are Medicaid programs such as home and community based programs that are Medicaid and pay for in home care for those that qualify. As mentioned above, there are income and asset limits.
Helpful Answer (0)
Report

No , They will not be able to attach your income or your own retirement.
In our State we have Sousal Impoverishment protection for the Community Spouse. It allows the spouse that stays in the community to have income and assets to take care of their needs.
Depending on the total income of each party it is between 2300-2700$ per month
So if your income is less than what is considered a livable amount your spouse may actually allocate money to you in order to keep you independent and not lose your house, and health care. Check with Medicaid.gov and seach by the State you live in.
Helpful Answer (0)
Report

MediCare is different than MedicAid. I suggest everyone type the capital C in word MediCare and capital A in MedicAid to avoid confusion. There's a huge difference in these 2 government programs.
Helpful Answer (0)
Report

ladylee, you're correct they can't attach your income but people need to understand that the spouse can only keep a certain amount in assets. Excluding the house and car, they can't have over around $110K in assets in cash and retirement funds.

There is also a 5yr look back, so you can't just gift 100K to an adult child.

You're better off in this country of either being very rich or not having a pot to p**s in, anyone else gets penalized for saving money.
Helpful Answer (0)
Report

2015
SSI and Spousal Impoverishment Standards
Supplemental Security Income (SSI) Effective 1-1-15
SSI Federal Benefit SSI Resource Income Cap Earned Income Unearned Income
Benefit Rate (FBR) Standard Limit (300%) Break Even Point Break Even Point
Individual 733.00 2,000.00 2,199.00 1,551.00 753.00
Couple 1,100.00 3,000.00 N/A 2,285.00 1,120.00
Substantial Gainful Activity (SGA) Limit: 1,090.00 (Blind SGA: 1,820.00)
CPI Increase for 2015: 1.7%
CPI Increase, Since September 1988: 98.7%
Spousal Impoverishment Effective 1-1-15 Unless Otherwise Noted
Minimum Monthly Maintenance Needs Allowance (MMMNA): 1,966.25 All States (Except Alaska and Hawaii)
(Effective 7-1-14) 2,457.50 Alaska
2,261.25 Hawaii
Maximum Monthly Maintenance Needs Allowance: 2,980.50
Community Spouse Monthly Housing Allowance: 589.88 All States (Except Alaska and Hawaii)
(Effective 7-1-14) 737.25 Alaska
678.38 Hawaii
Community Spouse Resources:
Minimum Resource Standard: 23,844.00
Maximum Resource Standard 119,220.00
Home Equity Limits:
Minimum: 552,000.00
Maximum:828,000.00
Helpful Answer (1)
Report

I am a dibetic and have a fixed income.with rent and food i need help. I will start medicare in Aug and that is going to take more from my fixed income is there some help for me?
Helpful Answer (0)
Report

Dammr0813 we can't tell for sure, you need to apply for Welfare benefits in your state, call your county Dept of Human Services and ask for an application, a Social Worker can help you through the process. Good luck.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter