Medicaid Planning - Page 2

As you get older, you naturally want to find as many ways to save money as possible. Healthcare is a particular area that puts a lot of financial pressure on New Yorkers as we age. And conditions like dementia, diabetes, heart disease and hypertension can strike anybody, regardless of their income and personal wealth. No ...

The State of New York has proposed a 30-month transfer of assets look-back period for coverage of community-based long-term care (CBLTC) services. The Medicaid Redesign Team II recommended the statutory change adopted by the New York State Legislature to ensure that individuals do not use Medicaid payments when their income or transferred resources can cover ...

There have been numerous questions posed regarding immigration applications and Medicaid.  The August 2019 Public Charge Final Rule made recipients of Medicaid ineligible for immigration benefits. However, as a result of litigation in the U.S 7th Circuit and a new rule under the Biden administration, this disqualification has been eliminated. USCIS is no longer applying ...

Most adults preparing for retirement don’t want to depend on Medicaid for their care as they get older. Only those with limited income and assets will even qualify for New York Medicaid in the first place. You might expect Medicare to provide you with the support you need, especially if you have supplemental private coverage ...

Many older adults in New York count on Medicaid, not just Medicare, to cover their expenses as they grow older. After all, Medicare does not cover nursing home support, in-home skilled nursing services or extended rehabilitative care. Adults who have planned carefully for retirement and who may have believed they were ready to cover any ...

Qualifying for Medicaid when you need it isn’t exactly easy. There is an extensive review of your financial circumstances involved. Any current income and the assets you own can affect your eligibility. Your house is usually one of the few pieces of property you can possess without disqualifying yourself for benefits. In fact, your current ...

  In recent years, drafting a caregiver agreement has become an essential step in Medicaid planning. When a loved one gets older, it is not uncommon for family members to step in and provide needed care. And while this care is usually provided without any consideration of compensation, a growing number of caregivers are entering ...

  Are you wondering about Medicaid asset protection? Find out what you need to know about irrevocable trusts in this article. If you’ve been considering protecting your assets in connection with potential long-term care needs, it’s important to understand what your options are when creating a Medicaid asset protection trust. This type of trust is ...

Long-term care planning isn’t something that most people think about until they need to get some type of care assistance. The issue with this is that the individual might not qualify for Medicaid care because of their assets. Medicaid is a program that is needs-based, so people who have significant assets won’t qualify for the ...

New York has included in the 2020 State budget Bill significant changes to New York’s Medicaid rules for Community Medicaid (Home Case) benefits, making it harder for New Yorkers to obtain Medicaid benefits for long-term care. The changes to New York State’s Medicaid program include the following: 2 1/2 year (30 month) Look-back for Community ...