Medicaid and Seniors

  • How to Set Up a Miller Trust for Medicaid Eligibility

    A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

    1 Comment
  • Applying for Medicaid: An Elder Law Attorney Can Help

    Medicaid planning is not a do-it-yourself project. Elder law attorneys are well-versed in the tricky legal, medical and financial factors that influence when a senior should apply to ensure they qualify for benefits as soon as possible.

    7 Comments
  • Top 5 Strategies for Protecting Your Money From Medicaid

    Many seniors must apply for Medicaid to afford long-term care. Here are strategies families can use to protect some of their assets while still qualifying for financial assistance with nursing home costs.

    23 Comments
  • The Top 8 Medicaid Planning Mistakes People Make

    Proper Medicaid planning is crucial when it comes time to pay senior care costs. Here are some common mistakes people make when trying to plan for Medicaid.

    7 Comments
  • How Joint Bank Accounts Affect Medicaid Eligibility

    Be aware of the pitfalls of joint accounts when planning and preparing for the Medicaid application, as mistakes in the way an asset is titled and managed can have a profound impact on Medicaid eligibility.

    6 Comments
  • Understanding the Medicaid Look-Back Period and Penalty Period

    Seniors with limited income and assets must use a spend-down strategy to qualify for Medicaid, but gifting can trigger a penalty period of ineligibility. Learn about Medicaid’s asset transfer rules to avoid problems with paying for long-term care.

    8 Comments
  • Medicaid Estate Recovery: Long-Term Care Benefits Aren’t Necessarily ‘Free’

    The goal of the Medicaid estate recovery program (MERP) is to recoup all the money that Medicaid spent on a senior’s care. Learn how MERP works and what families can do to minimize the impact of the recovery process.

    91 Comments
  • What Is the Difference Between Medicare and Medicaid?

    Medicaid and Medicare have similar names and are often confused, but they are very different. Learn about the differences between these two programs to ensure your aging loved one gets the health care coverage they need and qualify for.

    4 Comments
  • Asset Limits for Medicaid Eligibility

    Many people are surprised to learn they can keep several different assets and still qualify for Medicaid. A clear understanding of Medicaid resource limits and rules will help you devise the best legal and financial planning strategy for your situation.

    76 Comments
  • Medicare Savings Programs Help Seniors Pay Their Premiums

    Beneficiaries who have limited income and resources may qualify for help paying Medicare premiums and other out-of-pocket health care costs. Learn how MSPs could save a senior hundreds or even thousands of dollars a year.

    0 Comments
  • How Can My Elderly Parent Qualify for Medicaid?

    Find out how annuities play into Medicaid planning for your elderly parents. It may seem hard to believe that annuities can help the elderly qualify for Medicaid - yes, Medicaid. This is sometimes called the "Half-A-Loaf" approach, and in certain cases, it can be a lifesaver for those who need the help the most.

    45 Comments
  • Hiding Money from Medicaid: Don't Do It

    Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state. However, there are a number of legal techniques for protecting your parent's assets so that they pass to you.

    5 Comments
  • Power of Attorney Explained

    One of the most powerful tools for managing your affairs should you become mentally incapacitated is a durable power of attorney (DPOA). Understand the legal powers and responsibilities of assigning and holding POA.

    14 Comments
  • Protecting the Home from Medicaid with a Life Estate

    Is your parent paying for nursing home care with Medicaid? Learn how to use a life estate as an advance planning technique to allow families to retain ownership of their most important asset, their home.

    11 Comments
  • 4 Key Things to Know about Trusts and Medicaid Planning

    There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

    7 Comments
  • Medicaid or Medicare: Who Pays for Nursing Home Fees?

    The high cost of a nursing home stay can overwhelm seniors and their family members very quickly. Depending on the circumstances, Medicare, Medicaid or both programs may be used to cover nursing home expenses.

    1 Comment
  • A Prepaid Funeral Plan Should Be Part of Your Medicaid Spend-Down

    Money paid for advance funeral planning can be an exempt expense under Medicaid rules. Learn more about how preplanning a funeral can help you qualify for Medicaid.

    2 Comments
  • Spousal Impoverishment: Medicaid Spend-Down Rules for Married Couples

    Medicaid spend-down rules for married couples are different, depending on where each spouse lives. When one still lives at home, known as the “community spouse,” they can often keep more assets and income to avoid what is called spousal impoverishment.

    21 Comments
  • How to Pay for In-Home Care

    Learn how Medicaid, Medicare, long-term care insurance, and veteran’s programs can help pay for senior care at home.

    27 Comments
  • How to Pay for Assisted Living

    Most seniors pay for assisted living privately using a combination of savings, Social Security benefits, pension payments and retirement accounts. However, there are some government programs and financial tools that can help cover assisted living costs.

    36 Comments
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