In addition to helping your family after your death, a prepaid funeral contract can be a good way to spend down assets in ord...Read more
Medicare Part D Can Hinder Ability to Spend Down to Medicaid
- June 1st, 2007
Many states have programs allowing individuals above the Medicaid income thresholds to spend down excess income on health care costs and be eligible for Medicaid for a period of time. But those individuals with the Medicare prescription drug benefit -- Medicare Part D -- may experience some problems qualifying for Medicaid, including lapses in Medicaid coverage, according to a new issue paper from the Kaiser Commission on Medicaid and the Uninsured.
According to the paper, Medicare Part D recipients may not be able to spend down as quickly because they do not have large out-of-pocket drug expenses. This may cause them to have a lapse in Medicaid eligibility, which would impede their access to other health care services not provided by Medicare.
In addition, spend-down Medicare beneficiaries often do not attain Medicaid eligibility until late in the month and thus miss the cut-off for auto-enrollment into a Part D plan. While the federal Centers for Medicare and Medicaid Services has built in safeguards for individuals who experience a coverage gap, those safeguards do not specifically address spend-down beneficiaries.
To read the full paper, click here.
Local Elder Law Attorneys in Ashburn, VA
Felinton Elder Law & Estate Planning Centers
Mindy Felinton concentrates in the areas of Medicaid planning, Veterans' Benefits, asset protection, nursing home planning, elder law, wills, estate planning, trusts, living wills, powers of attorney, probate administration and trust administration and began her legal career 30 years ago as an Assistant State Attorney...
The Law Firm of Evan H. Farr, P.C.
In practice since 1987, Fairfax Attorney Evan Farr is widely recognized as one of the leading Elder Law, Estate Planning, and Specials Needs attorneys in Virginia and one of foremost experts in the Country in the field of Medicaid Asset Protection and related Trusts. Evan Farr has been quoted or cited as an expert by n...