Do Not Go Broke Paying For Nursing Home Care. Here are some simple & legal ideas on how to spend down assets to qualify for Medicaid
In order to be eligible for Medicaid, applicants must have no more than $2,000 in “countable” assets (the dollar figure may be slightly more, depending on the state). Applicants for Medicaid and their spouses may protect savings by spending them on non-countable assets. The following are examples of such expenditures:
- prepaying funeral expenses
- paying off a mortgage
- making repairs to a home
- replacing an old automobile
- updating home furnishings
- paying for more care at home
- buying a new home
In the case of married couples, it is often important that any spend-down steps be taken only after the unhealthy spouse moves to a nursing home if this would affect the community spouse’s resource allowance.
My firm has been helping Texas families for many years navigate the issues surrounding getting Medicaid benefits to pay for a family member’s nursing home care. Do Not Go Broke Paying For Nursing Home Care. Here are some simple & legal ideas on how to spend down assets to qualify for medicaid to help pay for nursing home care. The phone numbers to call are 1-866-KNOW.LAW (866-566-9529) (TOLL FREE) or 972-772-6100 or you can email me at firstname.lastname@example.org. No charge for the initial consultation.
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