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Medicaid Planning

Long-Term Care Insurance and Medicaid Planning

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.

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Elderlaw 101

Medicaid's Asset Rules

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). ...

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Elderlaw 101

Medicaid's Asset Transfer Rules

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

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Elderlaw 101

Promissory Notes and Medicaid

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.

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Elderlaw 101

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Hale Ball Carlson Baumgartner Murphy PLC
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Law Offices of John L. Laster
Falls Church, VA

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Daniel N. Steven, LLC
Rockville, MD

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Medicaid Rules, etc

View All Elder Law Topics Questions & Answers State Medicaid Information