Medicaid
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 […]
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Chronic Medicaid is a needs-based benefit that will cover room and board in a nursing home. When an individual is approved for Chronic Medicaid, the local Department of Social Services (DSS) determines the net available monthly income contribution (or “NAMI”). This is the monthly amount that the Medicaid recipient must pay to the nursing facility. […]
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Medicaid will pay the long-term care needs for individuals who meet certain income and asset criteria. This means that Medicaid will pay the high cost of home care or nursing home care for seniors. Since Medicaid is a means tested program, many people believe that they cannot access benefits. This common misconception results in people […]
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Question: My husband has been in a nursing facility for several months receiving Chronic Medicaid. He is now ready to come home and receive home care Medicaid. How much of his income can he keep when he returns home? Answer: Once your husband returns home, his Medicaid status will convert from Chronic Medicaid (nursing home […]
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The simple answer is no. So long as the house continues to be your primary residence, Medicaid cannot put a lien on the home. Generally speaking, to qualify for nursing home Medicaid (also known as Chronic Care Medicaid), a Medicaid applicant can have up to $15,900.00, not counting tax-deferred retirement accounts – however the required […]
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The Consumer Directed Personal Assistance Program (CDPAP) allows Medicaid long term care recipients to choose their own home care attendant, including family members, rather than hiring an aide from a home care agency. Medicaid Approval and Managed Long-Term Care Assessment Under the standard Medicaid process, after Medicaid approval, the recipient undergoes an assessment with a […]
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A marital trust is a type of irrevocable trust that allows one spouse to transfer assets to a surviving spouse tax free, using the unlimited marital deduction, while providing benefits not available if transferred outright. When drafting Wills for married couples, we usually include a Marital Trust to provide estate tax planning, spousal care, and […]
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A Medicaid lien on a home must eventually be satisfied. Typically, a Medicaid lien is placed on real property when an individual is receiving benefits through the Medicaid program during his or her lifetime and still owns a primary residence. Even when the home is exempt, it can become subject to a lien when the Medicaid […]
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Have you ever heard of the “5-year lookback” and wondered what people are talking about? If you have, you are not alone. The lookback concept is one that governs the conversation surrounding Chronic Medicaid, the New York State program that covers long term care services in a nursing facility. To financially qualify for Chronic Medicaid, […]
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Giving assets away during one’s lifetime is usually done for two reasons. The first is to reduce the value of one’s estate to avoid estate taxes at death. The second is to protect assets in the event one needs long-term care covered by Medicaid. The 2021 federal estate tax exemption is $11.7 million. This means […]
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