Medicaid Asset Limits

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.

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.

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.

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.

It depends. Certain conditions impact whether Medicaid “counts” an elder’s house as an asset once they move into a nursing home. Get the facts straight to ensure your loved one’s primary residence is protected.

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.

2018 updates to VA eligibility rules use net worth limits, spend-down restrictions and a lookback period to determine eligibility for benefits like the basic veterans pension, aid & attendance pension and survivors pension.

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.

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.

Under certain circumstances, life insurance policies are considered countable assets and can affect Medicaid eligibility. Some seniors must include their life insurance policies in their spend-down strategy to qualify for Medicaid long-term care services.

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.

Navigating Medicaid’s financial eligibility requirements is complicated, and the spend down process is one of the trickiest parts. Learn from this caregiver’s experiences before devising your own Medicaid planning strategy.

Medicare Advantage Plans and Part D plans can mitigate the growing costs of prescription drugs, but many seniors cannot afford this additional coverage. The Extra Help program assists low-income individuals in paying for their premiums and medications.

Medicaid is a complicated program with state-specific rules that can help pay for long-term care services for seniors with low income and limited resources. Explore New York State's rules for income, assets and coverage.

Medicaid forces a couple to divest themselves of the assets that they had planned to use for their retirement or to pass on to their family. When it comes to Medicaid planning, in some cases a couple may be better off financially if they're divorced.

There are countless facets involved in determining if a person if eligible for Medicaid, but relationship status does have an impact. If you think you or your loved one may eventually need Medicaid, be sure to take your marital status into consideration.

Inheritance and bequests are usually wonderful gifts, but for a beneficiary on Medicaid, these funds can jeopardize their eligibility for benefits.

What happens if you or your family member must move from one state to another and then apply for Medicaid? How does moving to a new state affect Medicaid eligibility?