Can a Promissory Note assist in saving money?

A Promissory Note is a great tool to protect a good portion of a nursing home Medicaid applicant’s life savings. Promissory notes are loans between the applicant and the borrower. The borrower promises to pay the applicant in monthly increments until the note is satisfied. Lets explore the issue more closely and see how it… Read more »

Will Medicaid services be different than private pay?

Considering Medicaid Many of us are very concerned when it comes to home care services for our loved ones. We generally feel that when we pay privately for our loved one’s home care services or even nursing home care they will receive better care more attention and golden personal assistance. Our life time experience dictates… Read more »

Will Medicare provide all of the services I will need?

Medicare Health Insurance: The creation of Medicare health insurance was and still is a great concept assisting the elderly population at their greatest time of need. It’s an affordable health insurance and offers the best health care available; however, there are some shortcomings that everyone should be aware of. Medicare health insurance covers eighty percent… Read more »

Medicaid Reimbursment

Medicaid’s Reimbursement Program The Medicaid Reimbursement Program allows the family, but not the spouse, to pay for their loved one’s home care services during the Medicaid pendency period and file a request for reimbursement once the application had been approved. Medicaid pendency period is the time between the filing of the application and the actual… Read more »

Spending down your Life Savings

Recently I prepared a Community Medicaid application with home-care services for a 90 year old widow. Unfortunately she had run out of her life savings and was convinced that either she applies for Medicaid or be moved to a nursing home. The above description relates to many of our elderly population. Most are under the… Read more »

Eligibility The Month Following Transfers

Many potential applicant’s are reluctant to file a Medicaid application because they read or heard that Medicaid will take their money, their income and their homes, due to the 5 year look-back. This idea is totally absurd and ridiculous. First, Medicaid doesn’t take anything! If an applicant is ineligible Medicaid denies their application. Second, Lets… Read more »

Benefits When Utilizing Community Medicaid

Suppose an elderly or disabled person saved approximately $200,000 in their life time requires assistance at home (home care services), approximately twelve (12) hours per day, seven (7) days a week. If they employ a licensed home care agency it could cost them approximately $25 per hour and sometimes more depending on their needs. Lets… Read more »

What is Medicaid?

What Exactly is Medicaid? Many elderly people believe their Medicare and Supplemental Health insurance will provide them with All the care they will ever need. Unfortunately, neither Medicare nor their Supplemental Health insurance cover long-term-care. What is Long Term Care? In Home – the individual requires a home attendant to assist them with their daily… Read more »

It’s Time To Consider Medicaid

Lets consider Medicaid as an option: It’s one thing to be proud, patriotic and all gong ho, but one also needs to be wise and consider the downfall if not utilizing the Medicaid program. Lets explore the following example: Elderly person worked most of his/her life, was able to save a few dollars, invested in… Read more »

5 Year Look-Back

What does the 5 year Look-Back truly mean? When a person applies for Medicaid nursing home medical assistance he/she must surrender five (5) years of bank statements. That does not mean the person applying will be disqualified for five (5) years. It only means they need to surrender bank statements. If within the five (5)… Read more »