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Using a government benefit such as Medicaid is a fairly common way to pay for long-term care. According to AARP, 65% of nursing home residents use Medicaid to pay for their care. Unfortunately, there is a lot of misinformation out there, which makes this very stressful time of life even harder for everyone involved. Here […]
Has the nursing home or assisted living facility personnel told you that you have to spend down all your hard earned money before you can qualify for benefits? Does your loved one need the extra care that a nursing home can provide, but you just don’t know how you’ll afford it? Have you been told it’s too […]
Cash payments or informal caregiver arrangements can affect your loved one’s ability to qualify for Medicaid upon going into a nursing home. Here’s what you need to know… Giving Money to Family Can Jeopardize Medicaid Eligibility When someone applies for Medicaid, the state looks back 5 years to see if any money was given away […]
While it may seem like a good idea that things like Medicaid applications and Veterans benefit apps are accessible and do-it-yourself, as with many things relating to government, it’s really not that simple. There are many things that can go wrong when people apply for Medicaid without the help of an experienced guide. Here are […]
Medicaid and Medicare are two different programs (but with a similar name). Medicaid may help with nursing home costs, as we discussed in a previous case study. Medicare is health insurance that helps seniors pay for doctors, hospital stays and prescriptions. So, does Medicare help with nursing home costs? Check out these facts: The maximum number […]
When a loved one needs nursing home care, that is one of the most stressful things a family faces. We help families every day deal with this difficult issue. One of the biggest concerns is often “how do we pay for it?” Nursing homes are expensive, often $5,000 per month or more. For many families, […]
“I heard the Medicaid rules are changing. What do I need to know?” The new Medicaid rules will go into effect on January 1, 2012. Here’s a peek at what it may mean for you: ALREADY IN A NURSING HOME The good news is the new rules will not affect current Medicaid eligibility. The even […]
“Are asset gifts to spouses exempt from the 5-year “look back” for Medicaid? –Charles A. Generally speaking, assets transfers to a spouse are exempt from the 5-year look-back rule. Transferring assets from the Medicaid applicant spouse to the community spouse (the at-home spouse) is part of what we do when completing Medicaid applications for clients. […]
Stay up to date with our Medicaid Seminar for professional advisors. Join attorney Joshua Becker as he covers the drastically changing Illinois Medicaid laws. Learn what the changes are and how you can keep your clients from making costly mistakes. Download the flyer now This seminar is only open to professional advisors and will be […]
There haven’t been many changes since last year, but our Consumer’s Guide to Medicaid for 2011 is now out. Last year’s edition was one of our most popular downloads of 2010. If you, or anyone you know may be facing a nursing home, then this guide can help you better understand the basic issues at […]