Long Term Health Care is a common issue for non-working Americans. Medicaid is a government program created in the 1960s to help alleviate the problem, but eligibility comes with a lot of requirements. One of the most demanding, and often unrealistic, requirements is keeping your assets under $15,450. Immediately, you can no longer own a home in your own name, amongst many other things.
U.S. News’ article “Some Do’s and Don’ts of a Medicaid Spend Down” discussed how one can spend down their assets in efforts of becoming Medicaid eligible. The article, linked below, suggests thinking ahead and hiring an attorney, as many do not realize how involved the application process can be. There are a variety of ethical and legal ways to manage and protect your assets, and still be Medicaid eligible.
Danna & Associates, PC has specialized in Estate Planning & Elder Law for over 24 years. These decades of experience allow us to offer you ample advice and answer any questions that may arise during your application process. Let us help you apply for Medicaid today! Call 718.273.0300 for your free consultation!
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