Medicaid is a state-federal partnership that provides medical benefit assistance to certain needy people, especially those over 65 years of age. However, you need to meet financial requirements such as asset limits to qualify. Assets in an irrevocable trust not for your benefit typically don’t count as available. Read on to learn more. Irrevocable Medicaid Trusts … [Read more...] about Irrevocable Medicaid Trusts
Medicaid is a state-federal partnership that provides medical benefit assistance to people who qualify, especially those over 65 years of age. However, in order to qualify, you also need to meet certain financial requirements such as asset limits. However, if you have made “uncompensated transfers,” that could lead to a period of disqualification from the program. Read on to learn more. Uncompensated Transfers … [Read more...] about Uncompensated Transfers
Each year, crowdfunding websites raise money for causes. Did you know such a website could impact your eligibility to receive Medicaid? Read on to learn how crowdfunding can impact Medicaid eligibility. Why Crowdfunding May Cost You Medicaid Eligibility … [Read more...] about Why Crowdfunding May Cost You Medicaid Eligibility
An ABLE account is a great strategy for someone who became disabled by age 26. An ABLE account may be income tax-free. It has other unique benefits for a disabled person. Read on to learn more about the ABLE account and how it can help. ABLE Accounts … [Read more...] about ABLE Accounts
Only 44% of Americans have even a simple Will. We procrastinate for several reasons. Learn those reasons and how to push past them. Learn, briefly, why planning is important. Estate Planning is Too Important to Procrastinate … [Read more...] about Estate Planning is Too Important to Procrastinate
If you have an older loved one who is facing health related issues you likely already know how complicated the Medicare system can be to navigate. A specific coverage issue has created a problem for a number of Medicare recipients recently that you may need to be aware of in the event that your loved one is ever transferred to a skilled nursing facility or rehabilitation center from a hospital. As a general rule, Medicare benefits do not include coverage for long-term care facilities. There … [Read more...] about What Is the Medicare 3 Day Hospital Stay Rule?
Medicaid can be a blessing to those who have few assets; however, qualifying for long-term care with Medicaid can be difficult. Many states, including Missouri, are trying to increase the amount of money people put toward their own care in order to make Medicaid funds cover a growing elderly population. A long-standing requirement when applying to Medicaid is the five year look-back period which is a period during which any gifts or transfers of assets will be counted against the applicant. Five … [Read more...] about What Is the Five Year Look-Back Period for Medicaid in St. Louis?
Unless you have been a Medicaid recipient before you may know very little about the program. Moreover you may assume that you will never need to know much about the program because you will never need Medicaid benefits. The reality, however, is that more and more older Americans are relying on Medicaid to pay the high cost of long-term care in America, meaning that there is a good chance you will need to qualify for Medicaid at some point down the road. If you do find yourself in need of … [Read more...] about To Qualify for Medicaid Can’t I Just Add My Son/Daughter’s Name to the Title to My Home?
The Affordable Care Act has changed many Medicaid eligibility rules since it took effect at the start of 2014; however, the changes do not affect everyone involved with the program. In the past, anyone applying would be subject to an asset test to see how much the applicant had in cash or other countable assets. Now, those asset tests are no longer needed for many people. For those under the age of 65 and who are not disabled or blind, income is the qualifying factor. This is why so many people … [Read more...] about Can I Just Give Away My Assets and Qualify for Medicaid?
The average person knows very little about the Medicaid program unless they have been a Medicaid recipient in the past. You may assume that you have no reason to know much about the program because you will never need it; however, chances are good that you, or someone close to you, will need Medicaid benefits in your older years. For this reason, it is important to understand some of the basic eligibility criteria for Medicaid now so that you can include Medicaid planning into your overall … [Read more...] about What Is the Medicaid Five Year Look Back?