When you apply for Medicaid coverage, a caseworker with review and assess whether you qualify for Medicaid benefits. Eligibility is need-based determinative, so it is important that you have evidence of your qualifications for the program. Make sure that before you apply, you have the necessary documents in hand.
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. Continue reading “Community Medicaid and Chronic Medicaid”
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”
In New York, Community Medicaid helps cover the cost of home care and Chronic Medicaid pays for all or part of nursing home care. However, there are certain income and asset requirements that apply to these Medicaid programs because they are need based. Continue reading “Chronic Medicaid vs. Community Medicaid”