Medicaid Asset Limits Articles

  • How to Use a Miller Trust for Medicaid Eligibility

    Qualifying for Medicaid coverage is a complex process that involves making sure a senior’s income and assets fall below certain levels. “Income cap” states allow applicants to use a specific kind of trust to help them meet these 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 Medicaid’s Lookback and Penalty Periods

    Gifting an asset can cause problems if you later need to apply for Medicaid to cover a nursing home stay, especially if you use gifting as a way to spend down assets. Learn the details of Medicaid lookback and how it impacts the Medicaid penalty period.

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  • Assets You Can Have to Still Qualify for Medicaid

    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.

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

    Under current Medicaid laws, your home is an exempt resource when determining eligibility, but residence within the home determines its protected status. Learn when an exempt home becomes a countable asset.

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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

    Beginning 10/18/2018, the VA will use new guidelines, such as 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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  • How Life Insurance Policies Affect Medicaid Eligibility

    Some life insurance policies can affect Medicaid eligibility. The reasoning for this Medicaid rule is that the owner could simply cash in the policy at any time, and thus it is counted the same as the cash value.

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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” to Medicaid: One Caregiver’s Personal Journey

    For many families, navigating Medicaid eligibility seems complicated and the spend down process is one of the trickiest parts. Use this caregiver’s experiences to inform 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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  • Moving to a New State Can Affect Medicaid Eligibility

    What happens if you or your family member must move from one state to another and then apply for Medicaid? How does moving to a new state affect Medicaid eligibility?

    4 Comments
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