Recent Changes Mean New Challenges When Applying for Long Term Care Benefits Through the VA
New rules the VA has imposed on beneficiaries make it more challenging to qualify for long-term care benefits than ever. There never used to be penalties for transferring assets and affecting eligibility; however, that has all changed. In the case of Medicaid, a net worth maximum of assets (in 2018) is $123,600 which a spouse […]
The Medicaid “Look-Back” Period and the Impact it has in Regards to Your Eligibility Determination
The terms Medicare and Medicaid are sometimes used interchangeably when, in fact, they are very different programs. Medicaid is a means-based program designed for those who have very few assets. As such, penalties are in place to avoid people from taking advantage of the system. Transfers of all amounts and reasons are heavily scrutinized by […]
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 […]
What Giving Away Money or Property Can Do to Your Medicaid Eligibility
Any and all transfers of money or property, no matter how big or small, are at risk of coming under scrutiny during the Medicaid look-back period of five years. Whether it is a charitable donation or holiday gift, the rules still apply however there are some instances that are exempt. Read on to find out […]
