Medicaid and Seniors

A senior’s income and assets must fall below certain limits to qualify for long-term care Medicaid. “Income cap” states allow applicants to use a Miller Trust to help them meet income eligibility guidelines.

Medicaid planning is not a do-it-yourself project. Elder law attorneys are well-versed in the tricky legal, medical and financial factors that influence when a senior should apply to ensure they qualify for benefits as soon as possible.

Many seniors must apply for Medicaid to afford long-term care. Here are strategies families can use to protect some of their assets while still qualifying for financial assistance with nursing home costs.

Proper Medicaid planning is crucial when it comes time to pay senior care costs. Here are some common mistakes people make when trying to plan for Medicaid.

Be aware of the pitfalls of joint accounts when planning and preparing for the Medicaid application, as mistakes in the way an asset is titled and managed can have a profound impact on Medicaid eligibility.

Seniors with limited income and assets must often use a spend-down strategy to qualify for Medicaid, but gifting can trigger a penalty period of ineligibility. Learn about Medicaid asset transfer rules to avoid problems with paying for long-term care.

The goal of the Medicaid estate recovery program (MERP) is to recoup all the money that Medicaid spent on a senior’s care. Learn how MERP works and what families can do to minimize the impact of the recovery process.

Medicaid and Medicare have similar names and are often confused, but they are very different. Learn about the differences between these two programs to ensure your aging loved one gets the health care coverage they need and qualify for.

Many people are surprised to learn they don’t have to get rid of all their assets to qualify for Medicaid. A clear understanding of Medicaid resource limits and rules will help you devise the best legal and financial planning strategy for your situation.

Beneficiaries with limited income and resources may qualify for help paying Medicare premiums and other out-of-pocket health care costs. Learn how MSPs could save a senior hundreds or even thousands of dollars a year.

Find out how annuities play into Medicaid planning for your elderly parents. It may seem hard to believe that annuities can help the elderly qualify for Medicaid - yes, Medicaid. This is sometimes called the "Half-A-Loaf" approach, and in certain cases, it can be a lifesaver for those who need the help the most.

Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state. However, there are a number of legal techniques for protecting your parent's assets so that they pass to you.

One of the most powerful tools for managing your affairs should you become mentally incapacitated is a durable power of attorney (DPOA). Understand the legal powers and responsibilities of assigning and holding POA.

Is your parent paying for nursing home care with Medicaid? Learn how to use a life estate as an advance planning technique to allow families to retain ownership of their most important asset, their home.

There are many types of trusts that can help protect your assets from Medicaid. Here's a brief overview of the things you need to know when setting up a trust for Medicaid planning purposes.

The high cost of a nursing home stay can overwhelm seniors and their family members very quickly. Depending on the circumstances, Medicare, Medicaid or both programs may be used to cover nursing home expenses.

Money paid for advance funeral planning can be an exempt expense under Medicaid rules. Learn more about how preplanning a funeral can help you qualify for Medicaid.

Medicaid spend-down rules for married couples are different, depending on where each spouse lives. When one still lives at home, known as the “community spouse,” they can often keep more assets and income to avoid what is called spousal impoverishment.

Home care payment options include Medicare and Medicaid plans, but VA benefits and long-term care insurance may also help pay for care.

Most seniors cover assisted living costs with savings, Social Security, retirement funds, and home equity. Some government programs and financial tools may help, too.