Medicaid Planning Strategies

While in large part people who purchase long-term care insurance and those who plan to qualify for Medicaid coverage of long-term care costs fall into separate groups, there are at least two situations where they overlap.

Medicaid 101

Determining the best time to buy long-term care insurance can help you manage your finances effectively as you prepare for the future.

Medicaid 101

A number of considerations go into how much long-term care insurance you should buy to cover nursing home costs and related health care expenses. Policy coverage and length of protection will vary affecting the cost.

Medicaid 101

Medicaid law provides special protections for the spouses of Medicaid applicants to make sure the spouses have the minimum support needed to continue to live in the community.

Medicaid 101

Under Medicaid law, a state must attempt to recover benefits it paid for health care following the death of a Medicaid recipient. The Medicaid estate recovery process may require selling your home to settle the claim.

Medicaid 101

The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home.

Medicaid 101

In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in "countable" assets (the figure may be somewhat higher in some states). ...

Medicaid 101

In order to be eligible for Medicaid, you cannot have transferred assets recently. Congress does not want you to move into a nursing home on Monday, give all your money to your children on Tuesday, and qualify for Medicaid on...

Medicaid 101

A promissory note is normally given in return for a loan. Classifying transfers as loans rather than gifts can be useful because it sometimes allows parents to "lend" assets to their children and still maintain Medicaid eligibility.

Medicaid 101