Medicaid Planning with Trusts: Part II
As we discussed last month, irrevocable trusts are legal documents that you cannot remove assets from and whose terms you cannot change the trust is established. These are most often created for [...]
Why an Irrevocable Trust May Be Superior to Gifting
Parents and other family members who want to pass on assets during their lifetimes may be tempted to gift the assets. Although setting up an irrevocable trust lacks the simplicity of giving a [...]
Trump Administration Proposes Major Change to Medicaid’s Funding Structure
The Department of Health and Human Services (HHS) will now give states the option to obtain a portion of their federal Medicaid funding via so-called “block grants.” This potentially [...]
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 [...]
Home Care Costs Rise Sharply in Annual Long-Term Care Cost Survey
When it comes to long-term care costs, the charges for home care are now rising faster than those for nursing home care, according to Genworth’s 2019 Cost of Care survey. In the past year, [...]
Medicaid’s Power to Recoup Benefits Paid: Estate Recovery and Liens
Federal law requires the state to attempt to recover the long-term care benefits from a Medicaid recipient’s estate after the recipient’s death. If steps aren’t taken to protect [...]
Protecting Your House from Medicaid Estate Recovery
After a Medicaid recipient dies, the state must attempt to recoup from his or her estate whatever benefits it paid for the recipient’s care. This is called “estate recovery.” [...]
Medicare Beneficiaries Need to Know the Difference Between a Wellness Visit and a Physical
Medicare covers preventative care services, including an annual wellness visit. But confusing a wellness visit with a physical could be very costly. As part of the Affordable Care Act, Medicare [...]
How Does Medicaid Treat Income?
The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home. The deductions include a $60-a-month personal needs [...]
Avoiding Louisiana’s Medicaid Crisis
There was buzz in national news last month about the potential for tens of thousands of Louisiana’s nursing home residents being evicted. The first draft of the state’s new budget from the House [...]
