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. Continue reading “Community Medicaid and Chronic Medicaid”

Medicaid Financials At A Glimpse

New York Medicaid eligibility

Medicaid is a program that entitles individuals who meet certain income and asset criteria to benefits for Chronic Medicaid or Community Medicaid. Chronic Medicaid is care that is provided in a skilled nursing facility, whereas Community Medicaid is care that is provided in an individual’s home by a home health aide. In 2017, Medicaid applicants may have up to $14,850.00 in resources to qualify for Chronic Medicaid. A Medicaid applicant may also have retirement accounts, such as IRAs, as long as the applicant is taking the minimum monthly distributions. In addition, a pre-paid burial account is an exempt asset. Continue reading “Medicaid Financials At A Glimpse”