Recent Developments in Medicaid and Health Care Planning Without Probate

RECENT DEVELOPMENTS IN MEDICAID AND HEALTH CARE PLANNING 2011 BY ROBERT J. LONGSTREET, ATTORNEY AT LAW

MEDICAID VS. MEDICARE ,[object Object],[object Object],[object Object],[object Object]

MEDICAID ,[object Object],[object Object],[object Object],[object Object],[object Object]

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WHY DO WE CARE ABOUT MEDICAID ELIBILITY? ,[object Object],[object Object],[object Object],[object Object],[object Object]

MEDICAID QUALIFICATION REQUIREMENTS ,[object Object],[object Object],[object Object],[object Object]

AND IF YOU QUALIFY… ,[object Object],[object Object],[object Object]

SOME GOOD NEWS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

HOMESTEAD EXEMPTION ,[object Object],[object Object],[object Object],[object Object],[object Object]

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PERSONAL PROPERTY ,[object Object],[object Object],[object Object],[object Object]

PRE-PAID FUNERAL CONTRACTS ,[object Object],[object Object],[object Object],[object Object]

EVERYTHING ELSE IS A “COUNTABLE ASSET” ,[object Object],[object Object],[object Object],[object Object],[object Object]

VALUING COUNTABLE ASSETS ,[object Object],[object Object],[object Object],[object Object],[object Object]

Valuing Countable Assets ,[object Object],[object Object],[object Object]

EXTRA EXEMPTION FOR “COMMUNITY” SPOUSE ,[object Object],[object Object],[object Object]

EXAMPLE: Mr. Brown is entering a long term care facility. Mr. and Mrs. Brown own the following assets: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

IF MR. BROWN APPLIED FOR MEDICAID: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHAT ABOUT INCOME? ,[object Object],[object Object],[object Object],[object Object]

WHAT ABOUT THE REMAINING $80,000 THE BROWNS OWN?

WHAT ABOUT THE REMAINING $80,000 THE BROWNS OWN? ,[object Object],[object Object]

MEDICAID PENALIZES GIFTS ,[object Object],[object Object],[object Object],[object Object]

IF MR. BROWN GIFTS REMAINING $80,000 TO CHILD ,[object Object],[object Object],[object Object]

SO WHAT IS LEFT FOR CLIENTS TO DO? ,[object Object],[object Object],[object Object]

FOR A SINGLE CLIENT ,[object Object],[object Object],[object Object],[object Object]

FOR MARRIED CLIENT ,[object Object],[object Object],[object Object]

AS A REVIEW… REMEMBER MR. AND MRS. BROWN?

WE CAN GET MR. BROWN ON MEDICAID IMMEDIATELY! ,[object Object],[object Object],[object Object]

MRS. BROWN ,[object Object],[object Object],[object Object],[object Object]

MR. AND MRS. BROWN SAVE 100% OF THEIR SAVINGS AND ESTATE ASSETS

DRAMATIC LAW CHANGE APRIL 1, 2011 ,[object Object],[object Object],[object Object]

Recent Example of New Law ,[object Object],[object Object],[object Object],[object Object]

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IF YOU HAVE A NURSING HOME ISSUE…. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Recent Developments in Medicaid and Health Care Planning Without Probate

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Recent Developments in Medicaid and Health Care Planning Without Probate