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Category Archives: Medicaid/Long-Term Care/Asset Protection
Ethical Issues In Medicaid Planning
Medicaid planning often raises difficult questions for families. Many people assume that qualifying for Medicaid means “giving everything away” or “hiding assets.” Others worry that planning to preserve assets while receiving government benefits may be improper or unethical. These misconceptions can prevent families from seeking help when they need it most. The truth is… Read More »
How to Pay for Nursing Home & Other Long Term Care
Understanding Medicaid and Long-Term Care Costs Many people believe they must spend all their savings or have long-term care insurance to afford nursing home or assisted living care. Fortunately, Medicaid—a joint federal and state program—can cover these costs after certain requirements are met. With proper planning, you do not have to deplete your life… Read More »
The Qualified Income Trust
The Problem Florida enforces an income cap for Medicaid eligibility when it comes to institutional care, such as long-term custodial nursing home care. This cap is set by Florida Statutes Section 409.904 and is typically three times the SSI limit. For example, in 2000, the income cap was $1,536 per month. However, the average… Read More »
Need Medicaid Help? Distance Is Not a Problem
When a loved one needs long-term care, time is often short, and the situation is stressful. Families may be facing an unexpected nursing home admission, an assisted living placement, or a sudden realization that private pay care is simply not affordable. In these moments, many people assume they must find a Medicaid planning attorney… Read More »
How Florida’s Medicaid Look-Back Rules Really Work
When a loved one begins needing long-term care, families in Florida often find themselves scrambling for reliable information. In that rush, one topic causes more confusion and more sleepless nights than any other: Medicaid’s five-year look-back rule. Rumors spread quickly, and misinformation spreads even faster. Before long, people start believing that one wrong move… Read More »
How to Pay for Nursing Home & Other Long-Term Care
The cost of long-term care is one of the greatest financial challenges older adults face. A private room in a skilled nursing facility can cost more than $100,000 per year in many states, and even assisted living or in-home care can quickly deplete a family’s savings. Medicare does not cover long-term custodial care, and… Read More »
What Medicaid Covers in a Skilled Nursing Facility
When a loved one needs long-term care in a skilled nursing facility, families are often confronted with overwhelming costs and confusing Medicaid eligibility rules. In Florida, the average cost of a private room in a nursing home exceeds $10,000 per month—far more than most families can afford to pay out-of-pocket for any significant length… Read More »
Can I Get a HELOC and Still Get Medicaid?
Whether looking to make renovations, help out a child or grandchild, take a trip or cover a major expense, many Florida seniors consider ways to tap into the value of their home without selling it. A Home Equity Line of Credit (HELOC) is one option that can provide access to cash when needed. But… Read More »
Can I Go on Medicaid and Still Keep My Home?
One of the most common concerns we hear from clients during long-term care planning is whether they can qualify for Medicaid and still keep their home. It’s an understandable worry—your home is often your most valuable asset, and it may hold a lifetime of memories. Fortunately, the answer is yes, in many cases, you… Read More »
How Many Assets Can I Have and Still Qualify for Medicaid?
If you or a loved one might be needing long-term care in a Florida nursing home, understanding Medicaid eligibility is essential. Medicaid can help cover the high costs of nursing homes and other long-term care services, but it comes with strict income and asset limits. Knowing how many assets you can have and still… Read More »