Medicaid – How To Know When To Spend Down and When Not To!

We are asked all the time in our office about the Michigan Medicaid spend down. What is it, anyway? Medicaid eligibility for the nursing home, assisted living, or home care holds basically two major requirements: Medical Eligibility. You must require assistance with a certain number of activities of daily living (cooking, transferring, bathing, toileting, and…

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Can Life Insurance Affect Your Medicaid Eligibility?

When applying for Medicaid, many people often forget about life insurance. Depending on the type of life insurance and the value of the policy, it may count as an asset that could disqualify you from Medicaid unless you take appropriate action.  In order to qualify for Medicaid, you must not have more than $2,000 in…

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Preserve Your Family Wealth With Proper Medicaid Planning

Preserve Your Family Wealth With Proper Medicaid Planning: 5 Important Things to Consider As retirement approaches, many people shift from a focus of making more money to preserving the assets and resources they have built up over their working years. The shift from growth mode to protection mode is common and should be taken seriously.…

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How Gifts Can Affect Your Medicaid Eligibility

We have all heard the phrase “it is better to give than to receive.” This is absolutely true, but if you think you might someday want or need to apply for Medicaid long-term care benefits, you need to be careful. You may be surprised to know that giving away money or property of any kind…

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Medicaid Planning, Part 3 of 3: Pre-Planning

Important Game Of Chess

If you are not presently in need of long term care, then now is the ideal time to discuss your options for paying for long term care when that time comes. There are 4 basic ways to pay for long term care: Out of pocket Insurance Medicaid The V.A. program called “Aid & Attendance.” When planning…

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