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

    More often than not, Medicaid planning is not a do-it-yourself project. Elder law attorneys are well-versed in the legal, medical and financial factors that determine if and when a senior’s Medicaid application is approved.

    6 Comments
  • When to Apply for Medicaid

    Medicaid can help with long-term care costs, but eligibility is determined by a combination of many factors. The rising cost of care makes planning in advance a priority when considering paying for senior care costs.

    8 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 and Property Affect Medicaid Eligibility

    Jointly held bank accounts, owning property together and other shared assets can affect Medicaid eligibility in a variety of ways.

    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 beneficiary’s care. Learn what families can do to minimize the impact of the recovery process.

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

    Medicaid and Medicare are different programs for health care coverage. Medicare is an insurance program that provides medical care to people over 65. Medicaid is a financial assistance program for low-income people. Some people have both Medicare and Medicaid.

    4 Comments
  • Assets You Can Have and Still Qualify for Medicaid

    Many people are surprised to learn that they can own several different assets and still qualify for Medicaid. Understanding Medicaid eligibility requirements will help you find the right legal and financial planning strategies to qualify.

    75 Comments
  • Medicare Savings Programs Help Seniors Pay Their Premiums

    Beneficiaries with limited income and resources may qualify for one of these programs to help pay Medicare premiums and other health care costs.

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  • 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
  • Can I hide money from Medicaid, so mom can leave her kids an inheritance?

    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 versus Medicare: Who Covers Nursing Home Costs?

    While both Medicare and Medicaid may cover all or part of the costs of a nursing home stay, there are important differences to the rules. Determine which program will pay for your aging loved one's stay in a skilled nursing facility.

    2 Comments
  • 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 which financial options pay for care at home. Explore using Medicaid, Medicare, long-term care insurance, or veteran’s programs to pay for home health aides and personal in-home care.

    27 Comments
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