The Need for Medicaid Planning
One of the greatest fears of older Americans is that they may end up in a nursing home. This not only means a great loss of personal autonomy, but also a tremendous financial price. Careful planning can help ease the…
The American Rescue Plan Could Improve U.S. Long-Term Care
Thank you to our friends at Levin & Perconti, a nationally renowned personal injury law firm in Chicago, for sharing this article with us. Justice in Aging: How The American Rescue Plan Helps Older Adults More than 45% of Americans…
The Top Eight Mistakes People Make with Medicaid
Medicaid planning can be a difficult and confusing process. The following are some common mistakes people make when planning to apply for Medicaid. Thinking it’s too late to plan. It’s almost never too late to take planning steps, even after…
Feds Release 2020 Guidelines Used to Protect the Spouses of Medicaid Applicants
The Centers for Medicare & Medicaid Services (CMS) has released the 2020 federal guidelines for how much money the spouses of institutionalized Medicaid recipients may keep, as well as related Medicaid figures. In 2020, the spouse of a Medicaid recipient…
How to Use a Trust in Medicaid Planning
With careful Medicaid planning, you may be able to preserve some of your estate for your children or other heirs while meeting Medicaid’s low asset limit. The problem with transferring assets is that you have given them away. You no longer…
Be Aware of the Dangers of Joint Accounts
Many people believe that joint accounts are a good way to avoid probate and transfer money to loved ones. But while joint accounts can be useful in certain circumstances, they can have dire consequences if not used properly. Adding a…
Medicaid Home Care
Traditionally, Medicaid has paid for long-term care in a nursing home, but because most individuals would rather be cared for at home and home care is cheaper, all 50 states now have Medicaid programs that offer at least some home…
Protecting Your House After You Move Into a Nursing Home
While you generally do not have to sell your home in order to qualify for Medicaid coverage of nursing home care, it is possible the state can file a claim against your house after you die, so you may want…
Using a Prepaid Funeral Contract to Spend Down Assets for Medicaid
No one wants to think about his or her death, but a little preparation in the form of a prepaid funeral contract can be useful. In addition to helping your family after your death, a prepaid funeral contract can be…
For Better or for Worse, States Are Turning to Managed Care for Medicaid Long-Term Care
More and more states are switching to a managed care model when dealing with Medicaid long-term care patients, a change that has resulted in a loss of services in some cases. Many states use managed care to deliver care…