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Then you'll have to do a $150 spend down before Medicaid will pay those nursing costs. That can be tricky, or easy to do, depending on your mother's medical expenses.
These can involve costs of their own and all have some limitations to consider, but they may be preferable to a spending down strategy: Medicaid asset protection trust. By setting up an ...
Still, with proper planning, there are ways to shelter assets from Medicaid spend-down rules. Special trusts, home equity transfers and annuities can help protect savings and property.
The law extends Medicaid's "lookback" period for all asset transfers from three to five years and changes the start of the penalty period for transferred assets from the date of transfer to the date when the individual transferring the assets enters a nursing home and would otherwise be eligible for Medicaid coverage. In other words, the ...
Medicaid is a government program in the United States that provides health insurance for adults and children with limited income and resources. The program is partially funded and primarily managed by state governments, which also have wide latitude in determining eligibility and benefits, but the federal government sets baseline standards for state Medicaid programs and provides a significant ...
The appeal of retirement age flexibility is the focal point of an actuarial approach to retirement spend-down that has spawned in response to the surge of baby boomers approaching retirement. The approach is based on personal asset/liability matching process and present values to determine current year and future year spending budget data points.
When you apply for long-term care through Medicaid, the government requires that you spend down your assets before receiving benefits. However, Medicaid rules are designed to ensure that the ...
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