Posts Categorized: Medicare/Medicaid

Will Nursing Home Costs Use Up Your Retirement?

Nov 20, 2019

Can the cost of nursing home care use up my retirement accounts? Yes!! All retirement accounts – IRAs, 401ks, 403bs and deferred compensation plans are “Available Resources” in Ohio and must be used to pay...

Medicaid’s Dark Secret

Sep 17, 2019

Medicaid’s Dark Secret For many participants, the program that provides health care to millions of low-income Americans isn’t free. It’s a loan. And the government expects to be repaid. Rachel Corbett October 2019 Issue U.S....

I Heard that I Am Allowed to Give Away Assets?

Aug 7, 2019

I heard that I am allowed to give away up to $15,000.00 per recipient, per year, without paying any gift tax. Is that a good way to make sure my estate is not consumed by...

Who Should be the Trustee?

Jun 13, 2019

If I create an Irrevocable Asset Protection Trust in order to protect my assets from the cost of a nursing home, who should be the Trustee of that trust? If the trust is properly set...

Is there a chance that the 5-year “Look-back” period could ever be changed for Medicaid qualification?

May 29, 2019

Is there a chance that the 5-year “Look-back” period could ever be changed for Medicaid qualification? Yes, what used to be a 3-year period is now a 5-year period. The last time that was changed,...

If I transfer my home to a child of mine, does that start the 5-year “Look-back” period?

Feb 28, 2019

If I transfer my home to a child of mine, does that start the 5-year “Look-back” period running before I can qualify for Medicaid to pay for my nursing home? Yes, any uncompensated transfer starts...

Once I start the 5-year period…

Feb 21, 2019

Once I start the 5-year period which must pass after I make gifts in order for me to get Medicaid to pay for my nursing home, what happens if I make additional gifts? For each...

Can IRAs and other retirement funds be transferred into an Irrevocable Medicaid Asset Protection Trust?

Feb 7, 2019

Can IRAs and other retirement funds be transferred into an Irrevocable Medicaid Asset Protection Trust? Yes, but you must first withdraw those funds and pay the income taxes due on them, then the balance of...

How do I know if my family and I need Medicaid Planning?

Jan 31, 2019

How do I know if my family and I need Medicaid Planning? Each family situation is different: the nature of what you own, how important it is to you that what you own be protected...

How much should Medicaid Planning cost my family?

Jan 17, 2019

How much should Medicaid Planning cost my family? That depends on many factors, and the cost will depend upon the priorities you establish with an Elderlaw attorney. He or she should be able to give...

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Posts Categorized: Medicare/Medicaid

Will Nursing Home Costs Use Up Your Retirement?

Medicaid’s Dark Secret

I Heard that I Am Allowed to Give Away Assets?

Who Should be the Trustee?

Is there a chance that the 5-year “Look-back” period could ever be changed for Medicaid qualification?

If I transfer my home to a child of mine, does that start the 5-year “Look-back” period?

Once I start the 5-year period…

Can IRAs and other retirement funds be transferred into an Irrevocable Medicaid Asset Protection Trust?

How do I know if my family and I need Medicaid Planning?

How much should Medicaid Planning cost my family?

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