Medicaid
There is a BIG change on the horizon for asset and income limits for long term care Medicaid recipients. Community-Based Long Term Care Medicaid Starting January 1, 2023, there will be an increase in the allowable monthly income level, as follows: 2022 2023* Individual $934.00 $1,677 Couple $1,367.00 $2,268 Practical Note: The local […]
Read More
When residential property is owned by a trust, the trustee may sell the property if the terms of the trust permit it. The trust would be the seller of the property and the trustee must sign the listing agreement, contract of sale and closing documents. Upon closing, the net proceeds from the sale are payable […]
Read More
Medicare never covers the full cost of a skilled nursing facility. Medicare does not always provide 100 days of rehabilitation, it will pay “up to” 100 days. Medicare Part A covers the full cost of the first 20 days in a rehabilitation facility when a patient meets certain qualifications after a hospital stay. For days […]
Read More
A Fair Hearing is how to challenge a determination made by a local social services agency (“Agency”). An Administrative Law Judge from the New York State Office of Temporary and Disability Assistance Office (“OTDA”) precedes over the hearing. If successful, the hearing will result in a written decision directing the agency to “correct” the case. […]
Read More
Community Medicaid is a government funded, need-based program that cover’s long term care services in one’s home. This means that recipients who qualify can have a home health aide help them in their home. There are two main assessments needed to qualify for Community Medicaid. The financial assessment determines if the applicant is below certain […]
Read More
Change is coming! The New York State Fiscal Year 2023 budget expands the ability for New Yorkers to qualify for Medicaid if they are 65+ years old, blind or disabled. Effective January 1, 2023, the allowable amounts for income and assets are increasing. Income Expansion The income amount for Community Medicaid recipients will be raised […]
Read More
There are many misconceptions surrounding Medicaid long-term care. One persistent myth is that a couple will lose all of their assets if one of the spouses applies for Medicaid to pay for a nursing home. This could not be further from the truth – applying for Medicaid long term care for one spouse makes sure […]
Read More
Medicaid provides long term care coverage to eligible individuals who meet certain asset and income requirements. Many people do not realize that they can become eligible for Medicaid and preserve assets – even when their assets and income seem too high. There are two types of Medicaid long-term care: Nursing Home Care (“Chronic Medicaid”) and […]
Read More
For New Yorkers receiving benefits under the long-term care Medicaid program, a life estate is a strategic estate planning tool. Maintaining a life estate can ensure that your home passes to your intended loved ones after your death. A life estate is created through a properly drafted and recorded deed or using an Irrevocable Medicaid […]
Read More
Article 81 of New York’s Mental Hygiene Law allows a court to appoint a guardian to manage the personal and/or financial affairs of an individual deemed incapacitated. The court must find that the alleged incapacitated person (“AIP”) cannot appreciate the nature and consequences of their inability to handle such matters and that the AIP is […]
Read More