Why the name of your medical insurer is important This post is part of the firm’s section titled What Personal injury Client’s Should Know section. Please be sure to read the posts in this section. If you are a personal injury client, you might think the process of litigation is simple. We have […]
Read more...Tag: Medicaid
Methods of preserving assets while insuring Medicaid eligibility
We have covered the difference between exempt and nonexempt assets in the past when it comes to applying for Medicaid. However, the question remains, how do you transform an nonexempt asset into an exempt asset? Brief overview of the importance of exempt and nonexempt assets As we previously pointed out, exempt assets are not counted […]
Read more...What happens if you transfer assets before applying for Medicaid?
Due to the limitations Medicaid imposes upon an applicant’s assets and income, it might seem tempting to transfer some of your assets to another person prior to applying for Medicaid eligibility. DO NOT DO THIS! The above warning cannot be said enough. If you transfer assets to another person during Medicaid’s lookback period, you will […]
Read more...What is the difference between exempt and nonexempt assets when applying for Medicaid?
There are differences between exempt and nonexempt assets when it comes to applying for Medicaid. Understanding the distinction between exempt and nonexempt assets can make the difference between spending and saving tens of thousands of dollars. What does it mean for an asset to be exempt? An exempt asset does not count against your Medicaid […]
Read more...How much money can you have and still qualify for Medicaid?
Medicaid is a government assistance program designed to make sure those who are of low financial means can obtain the long-term care they require. However, despite what many believe, Medicaid is not available only to those with little or no assets. How much money in savings can you have to still qualify for Medicaid? Medicaid […]
Read more...How Is Income Treated When Applying For Medicaid?
We previously discussed the differences between assets and income in regards to applying for Medicaid. Now we will examine how Medicaid treats income. The information below is an abbreviated overview of individual income taken into account for eligibility under Medicaid. For married couples, both incomes are considered when determining Medicaid eligibility. When the income is […]
Read more...Medicaid’s Spousal Impoverishment Protection Law
The Spousal Impoverishment Protection Law applies for nursing home admissions occurring on or after September 30, 1989. Protection under the law applies to nursing home, in-home and community type care services under the Medicaid Aged and Disabled Waiver. The purpose of the law is to allow the community spouse to keep some of the couple’s […]
Read more...What Is The Difference Between SSDI And SSI
When applying for social security, it is important to understand which program you may qualify for. Social security has two main programs. The first program is known as Social Security disability income (SSDI). SSDI provides monthly income for those who are unable to work due to a disability. To qualify for SSDI an applicant must […]
Read more...