Medicaid Spend Down- Cleveland Elder Law Attorney
The Medicaid spend down is the amount of countable assets that a person must spend on medical expenses before qualifying for Medicaid. Managing how best to handle the spend down is an essential part of Medicaid planning, and it begins with understanding the difference between compensated and uncompensated transfers. A [...]
Why Medicaid Planning is Important- Cleveland Elder Law Attorney
Medicaid planning, at its base, is working within the Medicaid laws and rules to protect assets and ensure a suitable quality of life for the patient, the patient’s spouse and the sanity of the patient’s loved ones. It’s comparable to tax planning. The goal is not to evade the system, [...]
The Medicaid Application- Cleveland Elder Law Attorney
Your elder law attorney will have a complete list of the requirements and information that is needed for Ohio’s Medicaid application process. It is important to be open and honest about your loved one’s financial accounts, as the penalties for failing to provide information can cause loss of benefits, or [...]
Timing, Look Back and Gifting Issues with Medicaid- Cleveland Elder Law Attorney
When to file the Medicaid application for a loved one with Parkinson’s or Alzheimer’s disease can be a difficult question to answer, thanks to the complicated Medicaid laws and regulations. The Deficit Reduction Act of 2005, or DRA, is a federal bill that changed many of the rules for applying [...]
Understanding the Medicaid Application- Cleveland Elder Law Attorney
When a loved one needs Medicaid to cover the costs of nursing home care for Alzheimer’s or Parkinson’s disease, the application process may seem daunting. Because each state manages its own Medicaid program, the complexity and length of the application will vary from one state to the next. Many opportunities [...]
Income Qualifications for Medicaid- Cleveland Elder Law Attorney
Some of the most common questions elder law attorneys hear in regard to qualifying for Medicaid involves income limitations. At the basis, it is a pretty simple concept. If you earn enough to pay for your medical expenses, you do not qualify. There are varying income limitations for single versus [...]
Non-exempt Assets and Medicaid- Cleveland Elder Law Attorney
Exempt assets are assets permitted by Medicaid, such as your home, a vehicle, and a limited amount of cash. Other assets above the limits set in your state are considered to be countable for qualifying for Medicaid, and must be spent down to reach the limits before Medicaid will begin [...]
Qualifying for Medicaid: An Overview of Assets- Cleveland Elder Law Attorney
When applying for Medicaid for a loved one with Alzheimer’s or Parkinson’s disease, it’s very important to start the process as early as possible. One of the most confusing aspects of applying for Medicaid is understanding and meeting the asset limitations. Assets are divided into two categories for Mediciad purposes: [...]