Medicaid Spend Down

  • 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.

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  • 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.

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  • 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.

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  • “Spending Down” for Medicaid: One Caregiver’s Personal Journey

    Navigating Medicaid’s financial eligibility requirements is complicated, and the spend down process is one of the trickiest parts. Learn from this caregiver’s experiences before devising your own Medicaid planning strategy.

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  • 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.

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  • Weighing the Pros and Cons of a Living Trust

    A living trust is a popular financial tool that can be used for Medicaid planning, estate planning and tax planning purposes. However, a trust may not be the best the best approach, depending on a person’s long-term goals and unique financial situation.

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  • Take the Guesswork out of Funeral Arrangements

    Frank discussions about final arrangements are wise to have at any age. Use these strategies to broach the subject and develop comprehensive funeral plans for yourself and your aging loved ones.

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  • 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.

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  • 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.

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  • 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.

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  • How to Use a Life Insurance Policy to Pay for Long-Term Care

    Unsure about how you will be able to cover long-term care costs? Learn how to convert life insurance to long-term care services without jeopardizing your Medicaid eligibility.

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  • 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.

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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
  • 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.

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  • Medicaid Eligibility for Married Couples: Understanding Income Limits

    Navigating Medicaid eligibility for married couples is tough. When only one spouse needs long-term care, be sure to familiarize yourself with spousal impoverishment provisions and your state’s rules for counting income.

    1 Comment
  • Medicaid Divorce: Is it a Viable Planning Option?

    Medicaid forces a couple to divest themselves of the assets that they had planned to use for their retirement or to pass on to their family. When it comes to Medicaid planning, in some cases a couple may be better off financially if they're divorced.

    7 Comments
  • Applying for Medicaid: A Caregiver’s Personal Experience

    Applying for Medicaid for an aging parent can be tricky. One caregiver describes his personal experience navigating the Medicaid application, dealing with the government and the red tape that comes with applying for Medicaid.

    38 Comments
  • Does a Medicaid waiver cover all assisted living costs?

    Medicaid never pays for everything associated with assisted living, even if your mom has early Alzheimer's.

    8 Comments
  • Can I spend down mom's life insurance assets to help her qualify for Medicaid?

    You can buy your mom's insurance policy from her, and pay her cash, which she can spend down to quality for Medicaid.

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