Our Blog

The tail end of the baby boomer generation is turning fifty-five this year and those born in the forties are moving into their seventies. They are setting milestones as they enter this third excelling at all levels.

A Pooled Income Trust allows a medicaid recipient to capture their income to pay their bills and qualify under the strict Medicaid income guidelines. This allows people to use their income to stay in their home and receive services.

Question: My father was recently enrolled into a Managed Long Term Care Company. I am having a hard time navigating his benefits and getting the care at home that he needs. Are there any options?

Question: My mother is elderly and gifted her house and a large bank account to me so that she could apply for Medicaid should her long-term care costs exceed her remaining resources. I am currently completing a FAFSA form for my son who is going to college next year. Will these gifts from my mother to me affect my son receiving financial aid? Can I put these assets into a trust for my benefit to avoid having to disclose them?

Question: My mother, who is widowed, is receiving Community Based Medicaid services. She currently owns a home in her own name; she has been hesitant to transfer it out of her name. I am concerned about Medicaid having a claim against the house after her death, am I right to be concerned?

The Community Based (Homecare) Medicaid program can assist families in paying for the cost of home health aides as well as supplies and equipment. Once approved for Community Medicaid, the individual is enrolled in a Managed Long Term Care Company (MLTC).

While the primary residence is exempt from the resource calculation for community-based Medicaid, there are certain precautions that should be taken to ensure that the house will remain protected under all circumstances. Owning a home does not disqualify an applicant from receiving Community Medicaid.

Question: I was speaking with a friend and she mentioned that I should consult an attorney for asset protection. I do not have a taxable estate, but she referred to a 5-year lookback. I do not understand why I would need asset protection.

Question: My father is about to enter a nursing facility. He may have to spenddown some of his money in order to qualify for Medicaid. I was told that he could pre-pay his own funeral and he may be able to pay for his children’s funeral as well. Is this true?

Question: I am looking into different care options for my mom, but I am concerned that she will lose her income to pay for care. This is the money she lives on every month. I recently heard that I could get her care at home through Medicaid and she would still be able to use her income for her regular monthly expenses. How does this work?