How to Qualify for Medicaid: Eligibility and Transfer 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). ...

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

With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting the Medicaid asset limit.

Medicaid 101

Medicaid has strict asset rules that compel many applicants to "spend down" their assets before they can qualify for coverage. It is important to know what you can spend your money on without endangering Medicaid eligibility.

Medicaid 101

Transferring assets to qualify for Medicaid can make you ineligible for benefits for a period of time. Before making any transfers, you need to be aware of the consequences. ...

Medicaid 101

Medicaid (called "Medi-Cal" in California, "MassHealth" in Massachusetts, and "TennCare" in Tennessee) is a joint federal-state program that provides health insurance coverage to low-income children, seniors, and people with disabilities.

Medicaid 101

A reverse mortgage can be a great tool in the right circumstances, but if you aren't careful you could end up losing your home. . .

The point of buying long-term care insurance is so you don't have to worry how to pay for a nursing home (or other types of long-term care). . .