One of the biggest benefits of the Medicaid system is that you can use the benefits to pay for nursing home care. However, this only comes into play if you have limited assets and qualify for the program in your state. On the plus side, Medicaid definitely pays for nursing home care for millions of people. Conversely, there is no guarantee that … [Read more...] about Does Medicaid always pay for care in a Skilled Nursing Facility?
Medicaid Planning FAQs
This depends largely on your personal situation, but there are many strategies you can use to your advantage. Although the Deficit Reduction Act has changed what you are able to do, there are still strategies that have been proven effective. Some of the best Medicaid asset protection strategies include: paying for certain Medicaid expenses, … [Read more...] about What are the best Medicaid asset protection strategies?
There is no short answer to this question, but there are several reasons why people go through the Medicaid planning process. For example, Medicaid Planning is important if you’re hoping to protect your assets from nursing home expenses as you age. Furthermore, you can make decisions, such as gifting assets, to improve your ability to obtain … [Read more...] about Why is Medicaid planning so important?
This depends on many factors, however, here is what you need to know: federal law requires that states cover particular groups of individuals. These include: low income individuals and families, qualified pregnant women, qualified children, and individuals who receive Supplement Security Income (SSI). States have the individual right to cover … [Read more...] about Are you eligible to receive Medicaid benefits?
Before you learn more about Medicaid planning, you’ll first want to better understand what this government program is all about. Medicaid.gov defines Medicaid as follows: “Medicaid is a joint federal and state program that, together with the Children’s Health Insurance Program, provides health coverage to over 72.5 million Americans, … [Read more...] about What is Medicaid?