Can I Keep My Pension if I Go On Medicaid?

Medicaid helps cover the costs of long-term care, nursing home costs and other medical expenses. However, Medicaid only provides coverage to people with limited income and limited countable assets.  If you receive a pension, the amount may be too high for you to qualify for Medicaid to help get the cost of nursing home care covered. Before you … [Read more...]

What Assets Can I Keep When My Spouse Qualifies for Medicaid?

If your spouse requires long-term care in a skilled nursing facility, the costs can be significant. Nursing homes can cost nearly $100,000 per year and many retirees could quickly exhaust their entire life savings paying for the costs of nursing care.  This is a big problem when one spouse needs to go into a nursing home and the other spouse is … [Read more...]

Estate Planning Advice: Should My Parents Give Me Their Home?

Long-term care can be very costly and it can quickly deplete a person's life savings. Medicaid can help cover the costs of a nursing home, but only if the person going into care has limited resources. When someone owns a home, it is thus natural to be concerned about whether the house will be lost if nursing home care becomes necessary. However, in … [Read more...]

Does Medicaid Pay For Long-term Care in the Home?

Medicaid provides important benefits for seniors and other individuals who are unable to care for themselves and who need long-term care. While many seniors benefit from Medicaid coverage to help pay the cost of a nursing home, there are also situations where a senior or his/her family members want to ensure that their loved one remains at home for … [Read more...]

Can’t I Just Add My Child’s Name to the Title of my House to Avoid Losing my Home to Medicaid recovery?

Estate recovery is a process in which the government tries to recover funds paid out by Medicaid for long-term care costs or other medical expenses. Medicaid is a program designed to provide medical coverage for the poor, but it has become widely used by seniors to pay for nursing home costs. After a senior dies, Medicaid recovery allows the … [Read more...]

Florida Medicaid Planning: Can’t I Just Give My Assets Away and Qualify for Medicaid Benefits?

As you become older, you may incur significant medical expenses, even when you are covered by Medicare. Medicare, the insurance designed to cover all elderly Americans, provides some coverage but requires you to pay a percentage of expenses and may not offer full payment for things like assisted living or nursing home care. Fact is it pays very … [Read more...]

Medicaid Cuts to Save State Money

The Florida Independent recently published an article by Ashley Lopez discussing the state's efforts to cut costs by limiting Medicaid coverage: Kaiser Health News and USA Today report that Florida is among a slew of states that have been cutting costs by limiting hospital coverage in their Medicaid plans. Last week, an official for Florida's … [Read more...]

Revitalization of Promissory Notes as a Medicaid Planning Tool

Recent implementation of the Deficit Reduction Act of 2005 has resulted in Medicaid policies that are just now being utilized by the Elder Law Bar as a new planning opportunity for asset preservation for families with loved ones seeking long term care. This change was set forth in the ESS manual in January 2010. However, only until recently have … [Read more...]