Medicare covers roughly 65 million people, and most of them stand to benefit from changes that have been gradually coming into place since 2022. Unfortunately, understanding your entitlement to various Medicare benefits and making sure that you don’t run afoul of the...
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Medicaid and Medical Assistance
Will gifting assets hurt your Medicaid eligibility?
Gifting property to family members may give you peace of mind as you get older. You get to see your loved ones enjoy these gifts while you are still alive, plus you can keep your treasured items in the family. However, you should be aware that gifting assets may...
What may I include in a special needs trust?
A third-party funded or common law special needs trust may hold money or property to support a disabled heir or child. As noted by the AARP, you may add money to a special needs trust in any amount that suits your heir’s or child's needs. By creating a trust, you may...
What are Medicaid’s income eligibility limit for long-term care in PA?
If your elderly parent is like most people who need nursing home care, he or she is either “over-income,” “over-asset” or both. Yet, your family may still struggle to afford the high cost of long-term care. Your family is not alone. Medicaid’s income and asset...
Will my spouse be protected if I must apply for Medicaid?
In 2018, the national daily average for a shared room in a long-term care facility was $245 or $7,441 per month, while a private room could cost you $275 a day or $8,365 a month. A report by SeniorLiving.org reported that the average cost of a semi-private room in...
How does Medicaid eligibility work in Pennsylvania?
As your parents age, you may wonder how your family will afford the long-term care they need. In Pennsylvania, the Medicaid Medical Assistance program offers long-term care coverage, including nursing home and assisted living care, for qualifying adults ages 65 and...
Medicaid and financial eligibility
Medicaid/Medical Assistance Planning always involves the consideration of financial eligibility. There are many different factors that people may need to take into consideration when it comes to applying for Medicaid. Many people assume that in order to qualify for...
What is a Medicaid spend-down?
Medicaid/Medical Assistance Planning is something that your family may need to consider. As your parents become older and their health deteriorates, it can be helpful to begin thinking ahead to a time when they might need to take up residence in a Pennsylvania nursing...
Medicaid trusts and other long-term care planning strategies
People in Pennsylvania who are evaluating their estate plans should give careful thought to how they might choose to fund any long-term care needs they may experience in the future. If no long-term care insurance policy has been maintained and there is not enough...
What is the look back period for Medicaid eligibility?
Why is Medicaid/Medical Assistance Planning important? As we age, we may reach a point where it becomes difficult to care for ourselves. If so, it may be necessary to consider a nursing home. Affording a nursing home can be difficult. Unfortunately, many elderly...