- Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state, with both civil and criminal penalties.
- You need to recognize what the lookback period, penalty period and gift rules are when helping someone qualify for Medicaid.
- An elder law attorney answers the question: what is the 5 year look-back period for Medicaid, and how does it relate to a gift?
- 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.
- 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.
- 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.
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How do you document paying an adult child caregiver during Medicaid spend down period?