Medicaid Planning Strategies

With the exorbitant cost of nursing home care, many families worry about depleting their loved ones’ life savings to pay for the care they need.

Medicaid can provide seniors with financial assistance for home care services. However, since the federal government and the individual states run Medicaid jointly, benefits coverage is different in each state.

To qualify for Medicaid, you must have limited income and assets (in most states, no more than $2,000 in your name). If you have more than that, you may find yourself having to "spend down" your extra assets to meet the $2,000...

Each fall, the Centers for Medicare & Medicaid Services (CMS) renews the federal guidelines that seek to protect individuals whose spouses are applying for or receiving Medicaid long-term care benefits.

Seniors who need assistance with certain daily activities are eligible for Medicaid Long-Term Services and Supports. Unfortunately, many who qualify for these services but wish to receive them in their homes end up on extended waiting lists.

Congress established the Medicaid Money Follows the Person (MFP) Program to provide states with federal funding to help seniors who are receiving care in institutions but want to live at home. ...

Medicaid 101

The Centers for Medicare & Medicaid Services (CMS) has released the 2023 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures.

A MAPT is one option a person may use to protect their assets from Medicaid and nursing homes or long-term care. Consider some pros and cons of MAPTs to see if this long-term care strategy is right for you.

Medicaid 101

If your assets are above the resource limit that would allow you to qualify for Medicaid, you may be able to engage in Medicaid planning. Legal strategies will allow you to qualify for benefits and preserve your assets. ...

Medicaid 101