Frequently Asked Questions

Q: What assets does Medicaid require to be spent down before a person qualifies?
A: Assets such as cash, bonds, savings, stocks, life insurance cash values, real property, etc. With proper planning and competent advice, all of these assets can be preserved.

Q: Once you are in a nursing home, are there still planning options available? A: Yes. It is possible to protect most or all of your life savings and still be eligible for Medicaid. Q: If the Medicaid applicant has a spouse, are the spouse’s income and assets included? A: The well spouse’s income is not considered in determining the applicant’s eligibility. However, all marital assets are considered. Income and savings above minimum allowable limits can be protected if you know your legal rights.

Q: Why is this planning so important?
A: The money saved from years of hard work can be depleted quickly when a family member requires long-term care. The loss of lifetime savings can have a devastating financial and emotional impact on the entire family. With competent counsel, it’s possible to preserve most or all of your life savings,
your family home, and investments, and still qualify for Medicaid.