You will want to look for a good experienced insurance producer who deals a lot with long-term care insurance because they are the best ones to give you advice. But, there are a few terms that will help in your discussion with the insurance producer. Understanding the following terms: Elimination Period, Term of Years or […]
Are Birthday And Holiday Gifts Included In The Medicaid 5-Year Look Back?
If you’ve looked into Medicaid eligibility at all, you are probably aware there is something called a look-back period, which basically says that gifts and other transfers of assets for less than fair-market value that are made within five years before someone applies for Medicaid will cause a transfer penalty, which can cause a delay […]
Is Protecting Assets From Long-Term Care Costs Ethical and Moral?
The planning involved in protecting someone’s assets from the devastating costs of long-term care often spark questions with regards to its ethical and moral standpoints. As to a moral standpoint, Alzheimer’s is a destructive disease that requires a specific kind of care, usually involving a long-term care facility. While there is financial help for people […]
Does Medicaid Pay For Long-Term Care Other Than In A Nursing Home?
The types of long-term care Medicaid is available to cover and pay for differs between Illinois and Missouri. While in both states, Medicaid pays for nursing home care in a nursing home (Medicaid bed), beyond that the two states differ significantly. In Illinois, there are some assisted living facilities that have been certified as supportive living facilities and they are […]
Medicaid Asset Allowance Increase In Missouri, But Not Illinois
One of the central concerns people have with regard to Medicaid is: How much in assets can someone keep and be eligible for Medicaid? In Illinois, the Medicaid asset allowance for a single person has been $2,000. For a long time Missouri was stuck being one of the lowest of most states in the country […]
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