You ‘Cure’ a Medicaid Penalty Period by Returning a Gift

Anyone who gifted assets within five years of applying for Medicaid may be subject to a penalty period, but that penalty can be reduced or eliminated if the assets are returned.  In order to be eligible for Medicaid, you cannot have recently transferred assets. Congress does not want you to move into a nursing home […]

Using Estate Planning to Prepare for Medicaid

Long-term care involves not only a loss of personal autonomy; it also comes at a tremendous financial price. Proper planning can help your family prepare for the financial toll and protect assets for future generations.  Long-term care can be very expensive, especially around-the-clock nursing home care. Most people end up paying for nursing home care […]

What To Do With Your Stimulus Check if You Are in a Nursing Home

As the second round of stimulus checks goes out, it is important to know that nursing home residents are not required to turn their checks over to their nursing home. And Medicaid recipients need to spend the cash within a year if it puts them over Medicaid’s resource limit.  In December 2020, Congress approved $600 […]

Medicare and Medicaid to Cover COVID-19 Testing

With coronavirus dominating news coverage and creating alarm, it is important to know that Medicare and Medicaid will cover tests for the virus. DHHS Announces a New Designation The Department of Health and Human Services has designated the test for the new strain of coronavirus (officially called “COVID-19”) an essential health benefit. This designation means […]

CMS's Updated Financial Guidelines for Community Spouses in 2020

The Centers for Medicare and Medicaid Services have just released their guidelines regarding the “community spouse” for 2020. A “community Spouse” is the spouse of a Medicaid recipient who is living in a nursing home. There is an allowance threshold that applies to the community spouse, known as the CSRA or community spouse resource allowance […]

How Can I Keep my Home Safe from Medicaids’ Grip

A common perception of applying for Medicaid and moving into a nursing home is that you will lose your home. While you aren’t required to sell your home to qualify for Medicaid nursing home care, the state could potentially make a claim against your house upon your passing. People’s first inclination is often to give […]

How Much is a Community Spouse Protected Financially in 2019?

By definition, the “community spouse” is the spouse of a Medicaid recipient that is living in a nursing home. There is a certain amount of money the community spouse is allowed to keep without it endangering the recipients’ eligibility. This is where asset protection is important to explore with a qualified attorney. They can help […]