There are those who think that Medicare is going to take care of all their health care needs once they become eligible. At the present time, the age of eligibility for Medicare is 65. Of course, everything is always subject to change so this is something to watch closely as your retirement years start to come into focus. … [Read more...]
Will You Need to Sell Your Home to Qualify for Medicaid?
If your spouse becomes ill and must enter a nursing facility it isn’t necessary to sell your home, though it is important to understand that there will still be some major concerns at some point. In many cases when someone enters a nursing home they will need help from Medicaid to pay for that cost, even if they thought that they could pay for the care on their own. … [Read more...]
Medicaid Eligibility & Gift Giving
The costs associated with long-term care are a source of concern in the elder law community. Approximately four out of every 10 individuals who reach the age of 65 will someday spend some time in an assisted-living facility, nursing home, or both. To drill down a little bit further, citizens 85 years of age and older are the fastest-growing segment of the American population. About 25% of people who reach this age are residing in a nursing home at any given point in time. … [Read more...]
Medicaid Benefits for Your Grandchildren
Due to a variety of circumstances modern grandparents are increasingly called upon to raise their grandchildren when their own children cannot. Oftentimes a major factor in this custodial care is the fact that grown children are incapable of supporting these grandchildren. Grandchildren placed in the care of grandparents may be eligible for Medicaid benefits even though the custodial grandparents do not qualify for these benefits. Medicaid Eligibility Medicaid is a social program funded … [Read more...]
Impacts of Medicaid Estate Recovery
An important benefit under the federal Medicaid system is payment of nursing home costs for eligible persons over the age of sixty-five. Although Medicaid is a joint program with state governments targeted for low-income citizens, the income eligibility guidelines are strictly based upon federal Medicaid law. Meanwhile families recognize the tremendous financial burden that extended nursing home care imposes on the healthier spouse. To protect the family assets and lifestyle, these … [Read more...]
The Difference Between Medicare and Medicaid
There is a lot of confusion between Medicare and Medicaid, and though they are both government sponsored healthcare plans, there are some major differences between the two. Medicaid – This plan is sponsored by the federal government and is intended to provide assistance to those with a low-income. If you have a financial need, Medicaid will cover you, even if you are over the age of 65. Many seniors that are low income will have Medicaid in conjunction with Medicare, simply because it covers … [Read more...]
The Health Care Reform Bill’s Affect on Medicaid
Health Care Reform has affected a number of government programs, including Medicaid. For example, States will have to include Spousal Impoverishment Protection in their waiver programs, and offer this protection to spouses of HCBS waiver participants, including those who are medically needy. This protection will continue for 5 years. The law also establishes a Community First Choice Option to provide community-based support and services to those with disabilities who are Medicaid eligible and … [Read more...]
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