Here’s an article that discusses end of life planning. Specifically, how to ensure that your last wishes are carried out. The article goes into detail about wills, living wills (physician’s directives), power of attorney, medical directive (medical power of attorney) and more. Related Articles: What is a Medicaid countable asset? What is the monthly allowable… Continue Reading
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Category Archives: Medicaid planning
What is a Medicaid countable asset?
Countable assets (for purposes of Medicaid computations) are assets in which the Medicaid subscriber/applicant has (1) ownership, (2) has the legal authority to liquefy the asset, and (3) is not otherwise prohibited from using the asset for his/her own support. There are also assets that are exempt from Medicaid computations and therefore not countable. Such… Continue Reading
What is the monthly allowable income for Medicaid eligibility in Texas?
As of 2009, the monthly income eligibility for Medicaid in Texas is calculated by multiplying the SSI for an individual (presently $674) times 3. Therefore, the income allowance in Texas is $2022. Related Articles: What is a Medicaid countable asset? What is the monthly allowable income for Medicaid eligibility in Texas? I want to apply… Continue Reading
I want to apply for Medicaid, but I have too many assets. What can I do?
Depending on the size of your estate, a Medicaid compliant estate plan can reduce your estate’s countable assets for Medicaid purposes. This may allow you to qualify for Medicaid after a certain date. Related Articles: What is a Medicaid countable asset? What is the monthly allowable income for Medicaid eligibility in Texas? I want to… Continue Reading
What is the penalty for making gifts and hiding assets from Medicaid?
In the state of Texas, it is a criminal offense to defraud a governmental agency, such as Medicaid. The penalties can be very severe, and may include fines and jail time. Gifting in violation of Medicaid rules can cause a disqualification of Medicaid benefits for a period of time. Related Articles: What is a Medicaid… Continue Reading
My spouse is in a nursing home. I still live in our house. Can my spouse still qualify for Medicaid?
Possibly, depending on how the house is titled. There is also an issue with Medicaid Estate Recovery Program (MERP) going after the value of the house after the second spouse’s death. A proper Medicaid compliant plan can address this. Related Articles: What is a Medicaid countable asset? What is the monthly allowable income for Medicaid… Continue Reading
What is a Medicaid compliant estate plan?
A Medicaid compliant estate plan includes will, power of attorney and a HIPPA release. The plan would include a number of actions, including gifting, and asset planning such that the Medicaid rules are strictly complied with. Examples include shifting money from Medicaid countable assets to Medicaid compliant accounts, use of a Miller Trust, and Special… Continue Reading
What is a "rider 28"?
Also known as the “Money Follows the Person” rider. This section of law provides that if a person moves from nursing to community based care facilities, the funding for such a person will have such funding follow him/her from the nursing facility to the community care service. The nickname refers to the number 28 rider… Continue Reading
Under Medcaid, what is a "medical necessity"?
Medically Necessary (or Medical Necessities) per the Act are: • Reasonably necessary to prevent illness or medical conditions, or provide early screening, interventions, and/or treatments for conditions that cause suffering or pain, cause physical deformity or limitations in function, threaten to cause or worsen a handicap, cause illness or infirmity of a recipient, or endanger… Continue Reading
What is MERP?
MERP is the Medicaid Estate Recovery Program. This program seeks reimbursement from a deceased person who received specific Medicaid benefits during his or her lifetime. Related Articles: What is a deed? I am not a US citizen. Can I own property in Texas? What is MERP? Can a bank foreclose if the borrower dies? I… Continue Reading
What is hospice care?
Hospice care refers to a change in the style of treatment of a disease. Typically, hospice care refers to medical treatment or therapy in light of the impending death of a patient. The goal of hospice is to help terminally ill patients with “comfort care.” Related Articles: What is a Medicaid countable asset? What is… Continue Reading
What is an ADL?
In insurance and Medicaid/Medicare lingo, ADL is often used as an acronym for Activities of Daily Living. Activities of Daily Living are considered essential to daily personal duties of self maintenance. These duties including personal hygiene, getting dressed, using the restroom, and eating. Normally, these activities are placed on a checkbox style grid, and an… Continue Reading
What is the difference between Medicare and Medicaid?
Both are federal programs that help pay for medical needs. However, Medicare, which is applied for at the Social Security Office, is for: People 65 and over, people of any age who have kidney failure or long term kidney disease and/or people who are permanently disabled and cannot work. There is no income requirements for… Continue Reading
