Medicaid considers some life insurance policies to be an asset subject to the spend-down process. According to the New Jersey Medicaid regulations, the first step in analyzing life insurance policies is to determine the face value of all of the…
Tag: assets
Married Couples Can Now Protect More Assets
The cost of long-term care is catastrophic. If a husband or wife needs long-term care then the family’s assets are quickly depleted on the cost of that care. Once the assets have been spent down then the family can acquire…
Medicaid Trap: First Moment Rule
Applying for Medicaid assistance to help pay for long-term care can be a daunting task. There are numerous rules and regulations that often present significant problems for individuals who are attempting to obtain Medicaid. Many people refer to these as…
Federal Court Allows Annuity Strategy to Protect Assets
The United States District Court for the District of New Jersey has issued an important decision concerning the use of annuities for Medicaid planning. The Honorable William J. Martini rendered this favorable decision in the case of Jane Cushing v.…
Read More Federal Court Allows Annuity Strategy to Protect Assets
Change in Medicaid Laws Allow a Spouse to Keep More Assets
If a husband or wife requires long-term care in a nursing home facility, then that care can quickly deplete their life savings. Most nursing home facilities in this area charge more than $120,000.00 a year for a basic semi-private room. …
Read More Change in Medicaid Laws Allow a Spouse to Keep More Assets
