Category Archives: Medicaid
Do I Have to Spend All My Money on Nursing Home Care Before I Qualify for Medicaid?
Many of our clients want to make sure they will have Medicaid benefits if they need to move into a nursing home. Because Medicaid requires that its beneficiaries have very low assets, our clients often believe that they must spend all of their assets on nursing home care before they will qualify for Medicaid…. Read More »
Early Medicaid Planning Saves Money
Most people don’t like to think about the possibility that they may need to live in a nursing home one day. However, as we grow older nursing home care often becomes a reality. One of the most common ways to pay for nursing home care is through Medicaid. Many of our clients worry that… Read More »
Do I Have to Give Up My Home To Be On Medicaid?
In order to be eligible for Medicaid, the countable assets for a single person cannot exceed $2,000. For a married couple, the spouse not applying for Medicaid may keep up to $109,560 in countable assets. Because of this rule, many of our clients believe that they won’t qualify for Medicaid because they are not… Read More »
What’s the Difference between Medicare and Medicaid?
Because of their similar names, Medicare and Medicaid are often confused with one another. However, the two programs are actually quite different. While both are government-sponsored programs designed to cover health care costs, each program applies to different groups of people and has different eligibility requirements. It is important to be aware of these… Read More »
Important Virginia Medicaid Update
Virginia has made some important changes to its 2011 Medicaid rules. If you or your loved one is in the process for applying for Medicaid, it is important to keep up with these changes. One important change for 2011 is that the home equity exclusion has been raised from $500,000 to $506,000. The Department… Read More »
Can I Get Both Aid & Attendance and Medicaid?
Many of my clients want to apply for both the Veterans Aid and Attendance Pension and Virginia Medicaid. Because the VA and Medicaid rules are so strict, many people are not sure whether they can get both benefits at the same time. The good news is that in Virginia, income received from the VA… Read More »
The Top 10 Medicaid Myths
10. MYTH: “Due to the five-year lookback rule, I will not be able to protect my assets with Medicaid.” TRUTH: It’s true that the asset transfers you have made in the last five years will be examined and some of those transfers could delay your eligibility for Medicaid. However, some transfers won’t cause you… Read More »
Long-Term Care; Be Prepared in an Area of Uncertain Options
It’s flu season again, and the strain going around this year has been a difficult one, mainly because of how long it keeps its victims out of commission. So the article we recently found on Time.com about Long-Term Care seems particularly timely and relevant, if only because this year’s flu could be seen as… Read More »
What Is the Veterans Aid and Attendance Pension Benefit?
”Aid and attendance” is a commonly used term for a little-known veterans’ disability income. The official title of this benefit is “Pension.” The reason for using “aid and attendance” to refer to Pension is that many veterans or their single surviving spouses can become eligible if they have a regular need for the aid… Read More »
Average Cost of a Nursing Home Inches Closer to $80,000 a Year
Although the US economy has seen price rollbacks during the last year, long-term care providers have actually been raising rates, according to the 2009 MetLife Market Survey of Nursing Home, Assisted Living, Adult Day Services, and Home Care Costs. Private room nursing home rates rose 3.3 percent to an average of $79,935 a year… Read More »