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 […]
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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 […]
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