Medicaid Spend Down Articles - AgingCare.com

Medicaid Spend Down Articles

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Qualifying for Medicaid is a complex process that many seniors and their caregivers have difficulty with. Each state's program rules differ, but "income cap" states allow applicants to use a specific trust to help them meet eligibility guidelines.

Medicaid forces the couple to divest themselves of a lifelong accumulation of assets that they had planned to use for their final years or even pass on to their children or grandchildren.

Medicaid spend down rules for married couples are different, depending on where each spouse is living. Couples where one spouse still lives at home can often keep more money.

Unsure about how you will be able to pay for elder care? Learn how to convert your life insurance policy into a Medicaid-qualified asset.

What assets can you have and still qualify for Medicaid? Can your parents keep their house? Their car? Here are asset limits and guidelines for people who are applying for Medicaid and aren't sure what they qualify for.

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

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

Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state, with both civil and criminal penalties.

For many families, navigating Medicaid eligibility seems like more of a hassle than a source of help, and the spend down process is one of the trickiest parts. Use this caregiver’s experiences to inform your own Medicaid planning strategy.