Medicaid provides coverage for an individual’s long-term care costs, including institutional care in a facility. In order to qualify for Medicaid, an individual must be poor. Medicaid has stringent rules relating to financial eligibility, including the five year look-back rule. …
Category: Medicaid
Maximum Monthly Maintenance Needs Allowance for 2024
If a spouse requires long-term care and is receiving Medicaid assistance, then a portion of that institutionalized spouse’s income can be paid to the healthier spouse as support. According to Medicaid the amount of the support provided to the healthier…
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Medicaid Income Requirements for 2024
In order to obtain Medicaid assistance to pay for long-term care, a person must satisfy three basic requirements for the program. First, the individual must be in “clinical” need of Medicaid assistance. There must be a medical or underlying health…
Medicaid Allows a Spouse to Keep More Assets in 2024
The cost of long-term care can be catastrophic. Families have lost virtually all of their life savings due to the tremendous cost of long-term care in a facility. Fortunately, there are a number of laws that protect a healthier spouse…
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Protect Home for a Spouse
If a spouse requires long-term institutional care then it will have a significant impact on the family’s finances. Only after the assets have been spent down will Medicaid provide coverage for that spouse’s long-term care needs. This is known as…
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