How Medicaid’s Money Follows the Person Program Aids Seniors
Congress established the “Medicaid Money Follows the Person (MFP) Program” to provide states with federal funding to help seniors receiving care in institutions that want to live at home. However, it is not a permanent program and is due to expire in September 2027. Advocates have pushed for Congress to make MFP permanent, ensuring that states have […]
5 Questions to Ask Before Making Gifts for Medicaid or Tax Planning
Many seniors consider transferring assets for estate and long-term care planning purposes, or to help out children and grandchildren. Gifts and transfers to a trust often make a lot of sense. They can save money in taxes and long-term care expenditures, and they can help out family members in need and serve as expressions of […]
Medicaid Renewals Resuming: The Information Gap
Recent findings show an information gap among Medicaid recipients regarding the need to re-enroll for benefits after the COVID-19 Public Health Emergency (PHE) ends. Medicaid recipients are inconsistently informed about the end of the PHE and its effect on their health insurance benefits in terms of the amount of information they have and where they receive their information. The PHE […]
Pros and Cons of a Medicaid Asset Protection Trust
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect their assets from Medicaid and nursing homes or long-term care. A MAPT is an irrevocable trust created during your lifetime. The primary goal of a MAPT is to transfer assets to it so that Medicaid will not count these assets […]
What Does “Medicaid Pending” Mean?
In today’s world, it is crucial to have healthcare insurance. So, it can be concerning if your application status is still “Medicaid Pending.” Medicaid Pending status means that your application or your parent’s application has not yet been approved or denied. Essentially, your application is in limbo. Here is why this status is important: To […]
What to Do If Your Medicaid Application Is Denied
If you apply for long-term care assistance through Medicaid and your application is denied, the situation may seem hopeless. The good news is that you can appeal the decision. Medicaid is a program for low-income individuals, so it has strict income and asset eligibility requirements. Qualifying for Medicaid requires navigating the complicated application process, which has […]
Medicaid’s “Snapshot” Date and Its Crucial Impact on a Couple’s Financial Picture
When a married couple applies for Medicaid, the Medicaid agency must analyze the couple’s income and assets as of a particular date to determine eligibility. The date that the agency chooses for this analysis is called the “snapshot” date and it can have a major impact on a couple’s financial future. In order to be […]
Millions of People Could Lose Medicaid Coverage When the Pandemic Is Declared Over
While declining COVID-19 cases are good news, the end of the pandemic could mean millions of Medicaid recipients will lose their coverage. Federal law has prevented states from terminating Medicaid benefits while the coronavirus health emergency is in place. The Secretary of Health and Human Services declared a nationwide public health emergency for COVID-19 in […]
What Documents Are Required for a Medicaid Application?
Medicaid applicants must prove that they have limited income and assets in order to be eligible for long-term care services. Therefore, before beginning the application process, it is helpful to understand what information you will be required to provide to prove your eligibility. Medicaid is a state-run program, so the rules can vary from state […]
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 […]
