Stuff in the ‘long-term care’ Category
Medicaid’s Power to Recoup Benefits Paid: Estate Recovery and Liens
Federal law requires the state to attempt to recover the long-term care benefits from a Medicaid recipient’s estate after the recipient’s death. If steps aren’t taken to protect the Medicaid recipient’s house, it may need to be sold to settle the claim. For Medicaid recipients aged 55 or older, states must seek recovery of payments […]READ POST »
How Can You Transfer a Guardianship Between States?
When an incapacitated person cannot make personal or financial decisions, state courts may appoint a guardian to assist the individual with determining where to live, what kind of care to receive, or how to manage finances. In some cases, guardians may wish to move their ward — someone whom a court has found need a […]READ POST »
Pros and Cons of a Medicaid Asset Protection Trust
A Medicaid Asset Protection Trust (MAPT) is one option a person may consider to protect their assets from Medicaid and nursing homes or long-term care. A MAPT is an irrevocable trust created during your lifetime. The primary goal of a MAPT is to transfer assets to it so that Medicaid will not count these assets […]READ POST »
Medicare’s Limited Nursing Home Coverage
Many people believe that Medicare covers nursing home stays. In fact, Medicare’s coverage of nursing home care is quite limited. Medicare covers up to 100 days of “skilled nursing care” per illness, but there are a number of requirements that must be met before the nursing home stay will be covered. The result of these […]READ POST »
Who Should Purchase Long-Term Care Insurance?
Buying long-term care insurance is one way to protect against the high cost of long-term care. However, this type of insurance may not be for everyone, so consider all your options. Long-term care – care in a nursing home or at home – may be paid for in four main ways: Out-of-pocket. If you have […]READ POST »
