Medicaid Terminology

Many industries use specific words that makes communicating within the industry easier, and long-term care is no exception. When seeking resources to provide care for an elderly loved one, it’s important to understand some of the terminology used in the long-term care industry. For example, ‘Medicaid’ can be used to describe one of several different […]

Gifting and Penalties

If you know anything about Nursing Home Medicaid, you probably know that Medicaid policy is very strict about what’s allowed and what isn’t when it comes to financial eligibility. As a Medicaid Planner, I’m keenly aware of the many limitations on transactions that can be made as part of a Medicaid spend-down. A major restriction […]

Treatment of Income

Perhaps the most well-known requirement to qualify for Medicaid is the limitation on assets. If you’re familiar with the Medicaid program you’ll know that to be eligible for benefits in most states, single individuals must have less than $2,000 in countable assets. Aside from assets limitations however, eligibility also has requirements related to income. The […]

Financial Products

In the previous blog post we discussed how Medicaid treats primary residences in terms of eligibility and the availability of the home equity as an asset. Aside from real estate, let’s take a look at what financial products will be considered when determining Medicaid eligibility. Medicaid’s definition of countable assets includes almost any financial product, […]

Available Assets: Primary Residence

When someone applies for Medicaid assistance, one of the very first things Medicaid considers for eligibility is the applicant’s ‘available assets.’ In other words, Medicaid wants to know what funds are available to pay for long-term care. As of 2021, most states require that single applicants have less than $2,000 in assets, while married applicants […]

FAQ

Medicaid Terminology

Gifting and Penalties

Treatment of Income

Financial Products

Available Assets: Primary Residence