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Stating your health wishes to be followed in the event of a catastrophic medical event must be contained in an advanced health directive, or healthcare power of attorney. These documents are always part of a comprehensive estate plan. Planning Ahead: Why It’s Time to Talk About Your Health Care WishesThe COVID-19 pandemic prompted many of […]
The applicant’s principal residence (i.e. homestead) is always exempt, although Medicaid does place limits in the value of the home to be declared exempt. How does Medicaid treat the Homestead Exemption and/or the Medicaid applicant’s primary residence? When senior enters a nursing home to receive care services, he or she often leaves real property owned […]
Inheritance can affect Medicaid eligibility; the nature of the inheritance (i.e. real estate v. financial assets) affects the way in which inheritance alters eligibility. Oftentimes, a Medicaid recipient who otherwise has achieved Medicaid eligibility may receive assets that can affect their ability to receive Medicaid benefits. If the Medicaid recipient (or a Medicaid applicant) is […]
Some state Medicaid state departments provide real time online access to information on application status; other departments will gladly provide updates upon email contact. Medicaid is a federally-funded health insurance program for low-income citizens with disabilities that is administered by each state. The income requirements and types of coverage you get depend on state laws, […]
Rental property is considered a countable asset for purposes of Medicaid qualification and therefore requires early planning in order to preserve rental assets. It is not uncommon for a senior to enter long-term care in a nursing home, and part of their asset holdings income rental property, and their monthly income partially consists of rental […]