Community Medicaid and Chronic Medicaid

To qualify for Community Medicaid an applicant may have no more than $14,850.00 in assets. Community Medicaid provides coverage for at home care. It does not have a look back period and allows an individual to be eligible for benefits within one month. In addition, the $14,850 does not include qualifying retirement accounts, where the individual is taking monthly required distributions.

Community Medicaid Overview

To qualify for Community Medicaid an applicant may have no more than $14,850.00 in assets. Community Medicaid provides coverage for at home care. It does not have a look back period and allows an individual to be eligible for benefits within one month. In addition, the $14,850 does not include qualifying retirement accounts, where the individual is taking monthly required distributions.

Primary Residence and Community Medicaid

A primary residence is exempt, as well as an irrevocable pre-paid funeral. Even though a primary home residence is an exempt asset, there may be estate recovery upon the individual’s death. This is why it is important to pre-plan. In addition, any personal property, as well as one vehicle is exempt. An individual may have $845.00 in monthly income. Additional income is preserved using a Pooled Income Trust.

Chronic Medicaid Overview

Chronic Medicaid provides coverage for care that is administered within a skilled nursing facility and has a five-year look back period. This means that the Department of Social Services requires a financial disclosure for five years prior to the date of entering the skilled nursing facility. However, certain transfers to spouses are exempt.

Primary Residence and Chronic Medicaid

Applicants who transfer assets during the look back period will face a penalty period. An individual is allowed $14,850.00 in assets to qualify for Chronic Medicaid. Similar to Community Medicaid, an individual’s retirement accounts are exempt as long as he or she is taking the monthly required distributions. Also, an irrevocable pre-paid funeral is an exempt resource.

A primary residence is not automatically exempt when applying for Chronic Medicaid. If a spouse, minor, disabled or caretaker child resides in the home, a primary residence is considered an exempt asset. In addition, if the applicant intends to return home, then the residence is exempt for a certain period. An applicant also has a $50.00 per month income exemption. All other income must go toward his or her care. Furthermore, if the applicant’s spouse’s income is less than $2,890.50 per month, he or she may keep their spouses’ income to the extent needed to meet that level.

The Medicaid programs offer family members and loved ones excellent benefits that will allow them to receive the care he or she needs while preserving their assets. Medicaid pays for the largest share of long-term care services, but only if the individual meets the eligibility requirements.

The Medicaid application and eligibility professionals at P&P Medicaid Consulting, Inc. help Nassau County, Suffolk County, and Queens residents prepare applications for Medicaid eligibility while taking advantage of programs and planning options that will protect their income and assets. For more information or to schedule a consultation, call our Long Island, New York Medicaid consulting office at (516) 541-4770.

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