How To Protect Your Spouse and Family
from Medicaid Spend Down
If you are married and need SNF care, you may be worried about how Medicaid will affect your spouse and family. You may have heard that you have to spend down all your assets before you can qualify for Medicaid, leaving your spouse and family with nothing. However, this is not true. There are rules and strategies that can help you protect your spouse and family from Medicaid spend down, such as:
· Spousal income allowance: Your spouse can keep all of their income, regardless of the amount. They can also receive some of your income, up to a minimum of $2,465 and a maximum of $3,854 per month (in 2024), depending on their living expenses and other factors.
· Spousal asset allowance: Your spouse can have assets up to a maximum of $154,140 (in 2024), not including the home and many other types of assets. This means that your spouse does not have to sell or transfer all their assets to qualify you for Medicaid.
· Medicaid planning: This is the process of using legal and ethical methods to rearrange your income and assets to qualify for Medicaid, while preserving your wealth and legacy for your spouse and family. There are many Medicaid planning options available. However, Medicaid planning is complex and requires the guidance of an experienced elder law attorney such as Jason Waddell. It is important to note the Florida Supreme Court has determined any individual who is not an attorney attempting to help a person become eligible for Medicaid is committing the unlicensed practice of law which is a felony in the State of Florida. Therefore, if you are speaking to someone who says they are not an attorney, but they have one on retainer understand that is different from talking one on one with an attorney.
How To Apply for Medicaid for
SNF Care
If you think you may qualify for Medicaid for SNF care, or if you want to learn more about your options, you should contact an elder law attorney as soon as possible. An elder law attorney can help you with the following steps:
· Assessment: Our Firm can review your financial and medical situation and determine your eligibility for Medicaid and other benefits. We can also advise you on the best Medicaid planning strategies for your specific case and goals.
· Preparation: Our Firm can help you gather and organize all the documents and information you need to apply for Medicaid, such as proof of income, assets, identity, citizenship, residency, marriage, and more. We can also help you create and implement any Medicaid planning tools, such as trusts, QITs, or transfers, that may be necessary or beneficial for your case.
· Application: Our Firm can help you fill out and submit the Medicaid application form and any supporting documents to the appropriate agency. We can also help you communicate and negotiate with the Medicaid caseworker and resolve any issues or questions that may arise during the application process.
· Appeal: If your Medicaid application is denied or you disagree with the decision, our office can help you file an appeal and represent you at the hearing. We can also help you challenge any penalties or sanctions that may be imposed by Medicaid for any transfers or gifts you made in the past.