Category: Medicaid

Protect Either or Both Spouses’ IRAs from Nursing Home Costs

I often hear clients say that they know they won’t qualify for Medicaid assistance to help pay nursing home costs because they and/or their spouse have a large retirement account(s), such as Individual Retirement Account (IRA), Simplified Employee Pension Individual Retirement Account (SEP IRA), 401(k), or similar retirement plan.  However, we can now protect both spouses’ retirement accounts.

Read More »

My Spouse is a Medicaid Recipient in a Nursing Home. Is My Income Protected?”

Once your spouse has been approved for Medicaid to help pay nursing home costs, he or she will likely owe a portion of his or her income to the nursing home each month; this is referred to as the “liability” to the nursing home. The monthly liability owed to the nursing home is calculated by reducing the gross income of the Medicaid recipient by the following monthly costs:… Read More »