Older adults qualifying for Medicaid LTSS who wish to receive services in their home or community generally must wait to be granted a waiver before Medicaid will cover the cost of their home care. As each state administers its own Medicaid system and waiver program, the wait time can vary de...
Under Federal law, a person applying for Medicaid cannot reduce or transfer assets to others (for example, children) for the purpose of qualifying for Medicaid coverage of long-term care services. Doing so may result in a significant penalty period. During that time, even if assets have been...
Learn attorney secrets forprotecting assets while qualifying for Medicaid! Many seniors cannot afford to pay $7,500 to $11,000 per month or more for the cost of a nursing home, and those who can pay for a while may find their life savings wiped out in a matter of months, rather than...
Open Enrollment:Starts the month of your Medicare Part B effective date and lasts for 6 months. You are guaranteed issue, regardless of health status Special Enrollment Period (SEP):eligible to change coverage due to qualifying circumstance. Not all plans are guaranteed issue during Special Enrollme...
other goes into a facility does not have to spend all of their joint resources before qualifying. Medicaid rules allow protection of some income and assets for the spouse remaining at home. Medicaid rules are complex, and it is a good idea to get information from a specialist before the mone...
Estate plans or willsshould also be confirmed as part of making long-term care plans. It's important to discuss the costs of senior care if they are required around the clock as this could require more money to be spent on care. Updated look-back laws for qualifying for the low-income ...
Plans for People with Special Needs Some Part C Plans have been created specifically for people with special needs.These Plans are tailored to those with chronic conditions like heart disease, those who live in nursing homes, or those who are also enrolled in Medicaid (dual-eligibles). ...
Prequalifying can give you an idea of the rates and terms you may qualify for before you go through a formal application process and hard credit check. Prepare your documents. Find out what lenders require so you have the necessary documents on hand. Apply. You may be able to apply online...
Long-term care insurance: While long-term care insurance is most commonly used for senior care communities or home health care, some policies will cover home caregiving services. Aid and Attendance Benefit: While the VA Aid and Attendance Benefit does not explicitly cover home care, qualifying vet...
–Transfers to a Medicaid Qualifying Trust Assistance with making transfers, i.e. Letters of instructions to banks or brokerage companies. Monitoring transfers and determining penalty periods for Medicaid eligibility. –Referrals to Services and Professionals ...