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7 Asset Transfers Which Will Not Affect “Nursing Home Medicaid” Eligibility

Posted by AXIOM on August 12, 2015

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#1 Transfers to spouse. A married Medicaid applicant/recipient who is an inpatient at a nursing facility may, without penalty, transfer all assets to the spouse who is still living at home. #2 Transfers to a blind or disabled child. A Medicaid applicant/recipient may transfer assets to his or her blind or disabled child, according to SSI criteria, or to a trust fund for such a child, without penalty. #3 De Minimis gift. Each year, a

Treatment of Income for Medicaid Recipients in a Nursing Home

Posted by AXIOM on May 10, 2015

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Your Medicaid application has been approved. Fantastic! The approval notice mentions something about a “liability” owed to the nursing home each month. What is a liability and how did they arrive at this figure? Once you’ve been approved for Medicaid, you will likely owe a portion of your monthly income to help cover nursing home costs; this is referred to as the liability to the nursing home. The monthly liability owed to the nursing home

Indiana’s New Income Limit Rule and Its Potential Impact on Your Medicaid Eligibility

Posted by AXIOM on May 8, 2015

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Category: Medicaid
Beginning June 1, 2014, Indiana implemented a change to its Medicaid eligibility standards for those residing in nursing homes or receiving waivered services. The new rule currently limits the gross income of Medicaid recipients to $2,199.00 per month (updated May, 2015). Each year, this Special Income Level (SIL) may be adjusted. Medicaid recipients whose income exceeded the SIL prior to June 1, 2014, received a written notice from the Indiana Family and Social Services Administration

Planning for the Married Person Heading to or in a Nursing Home

Posted by AXIOM on April 14, 2015

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This month I will discuss an overview of Medicaid planning for a married person. To illustrate: Michael is a permanent resident of an Indiana nursing home. His wife, Shirley, still lives in their home. Their assets are a house with no mortgage; two automobiles worth $5,000.00 each; Shirley’s $25,000.00 IRA; Michael’s $35,000.00 IRA; and a checking account with a value of $85,000.00. Michael’s sole income is his Social Security benefit of $1,800.00 per month. Shirley’s

Planning for the Single or Widowed Person Heading to or in a Nursing Home

Posted by AXIOM on March 16, 2015

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This month I will discuss an overview of planning for a single person; commonly called Half‐a‐Loaf Medicaid planning. To illustrate: Dorothy, a widow, is a permanent resident of an Indiana nursing home. Her assets are a house with no mortgage; one automobile; and a checking account with a value of $100,000.00. Her sole income is Social Security income of $1,200.00 per month. The nursing home costs $6,000.00 per month. If she fails to take advantage