Medicaid

Are Prepaid Funeral Arrangements Exempt Assets for purposes of Medicaid Planning? Yes, funeral expenses are typically exempt assets for purposes of Long-Term Care Medicaid Spend Down, but only if done in a particularized way that complies with state regulation. In Missouri, effective August 28, 2009, participants have four options for pre-need burial contracts. Most funeral […]

How can you Make Transfers and Still Qualify under current Medicaid Rules? Most families are aware that making gifts and other uncompensated transfers for less than fair market value can affect Medicaid eligibility, and can even cause a penalty period of ineligibility. And this is certainly TRUE! And in many cases, the effects can be […]

Can You Transfer your Medicaid Status to Another State? There are times when a Medicaid Long Term Care recipient should move from one nursing home to a nursing home in another state, perhaps to be closer to family, or perhaps for other reasons. While the technical answer is NO, the broader answer is that maintaining […]

What is the Community Spouse Resource Allowance? The Community Spouse Resource Allowance, or CSRA, is portion of assets granted to the Community Spouse when the Institutionalized Spouse/Medicaid applicant enters a period of institutionalization in a nursing home. The CSRA is a vitally important allowance under the Spousal Impoverishment rules established by the federal government, used […]

Promissory Notes and Medicaid Can promissory notes be employed to create asset protection and early Medicaid eligibility? Yes. A strategy for protecting assets and qualifying for Medicaid that has gained attention in recent years is the use of promissory notes as part of a family’s spend down. This article will provide an explanation of promissory […]

A reverse mortgage loan is designed for adults age 62 or older to convert a portion of their home equity into cash, with the real estate serving as security for the loan; reverse mortgages are only available to Americans in this age range. This type of loan allows individuals and couples to remain in their […]