Medicaid Asset Limits

  • 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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  • 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.

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  • 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.

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  • 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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  • 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.

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  • Entering a Nursing Home: Will Medicaid Exempt Your Parent's House?

    There are some conditions that impact whether Medicaid “counts” an elder’s home as an asset once they move into a nursing home. Get the facts straight to ensure your primary residence is exempt for Medicaid eligibility purposes.

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  • 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.

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  • Needs-Based VA Benefits Get New Eligibility Rules

    2018 updates to VA eligibility rules use net worth limits, spend-down restrictions and a lookback period to determine eligibility for benefits like the basic veterans pension, aid & attendance pension and survivors pension.

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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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  • 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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  • Do Life Insurance Policies Affect Medicaid Eligibility?

    Under certain circumstances, life insurance policies are considered countable assets and can affect Medicaid eligibility. Some seniors must include their life insurance policies in their spend-down strategy to qualify for Medicaid long-term care services.

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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.

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  • 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.

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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.

    85 Comments
  • Can Mom gift money to her grand kids so Medicaid won't take it to pay for her nursing home?

    This is a difficult dilemma, and one that many families are facing. The dilemma can often be avoided or mitigated with advance planning, but that doesn’t help in your case.

    25 Comments
  • Struggling to Pay for Medications? Consider the Medicare Extra Help Program

    Medicare Prescription Drug Plans and Medicare Advantage Plans can mitigate the growing cost of medications, but many seniors cannot afford this additional coverage. The Extra Help program assists low-income individuals in paying for their prescriptions.

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  • A Quick Guide to New York Medicaid

    Medicaid is a complicated program with state-specific rules that can help pay for long-term care services for seniors with low income and limited resources. Explore New York State's rules for income, assets and coverage.

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  • 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
  • How Does a Domestic Partnership Affect Medicaid Eligibility?

    There are countless facets involved in determining if a person if eligible for Medicaid, but relationship status does have an impact. If you think you or your loved one may eventually need Medicaid, be sure to take your marital status into consideration.

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  • Medicaid vs. Inheritance

    Inheritance and bequests are usually wonderful gifts, but for a beneficiary on Medicaid, these funds can jeopardize their eligibility for benefits.

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