The article listed below, prepared by Medicareinteractive.org, offers a detailed explanation of what a Medicaid spend down is and how to proceed with one. Medicaid is a federal program, providing healthcare benefits to seniors over 65, or disabled persons, under the Social Security Act. Like any other government program, there are strict guidelines and regulations that must be followed to become eligible.
In New York, you must have less than $15,450.00 in assets to qualify for Medicaid benefits. Automatically, this disqualifies anyone who owns a home, or even a car, right? Wrong!
In fact, there are plenty of legal ways to circumvent this requirement. To ensure you are taking the proper steps, it is in your best interest to consult a lawyer before undergoing any major financial decisions.
Danna & Associates, PC has specialized in Estate Planning & Elder Law since 1994, offering us over 25 years of experience in completing Medicaid applications for a variety of individuals and families. Call 718.273.0300 for your free consultation today!
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