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Posts Tagged ‘Medicaid Application’

Can I Apply for Medicaid Online?

Whether it is the Florida Medicaid, LA Medicaid, or NC Medicaid Program, when the time comes, it is important to know how to go about applying for Medicaid. Medicaid is a program that is funded by both the state and federal governments. Even though the funding comes from both forms of government, each state administers their own services. This means that when you are ready to apply for Medicaid, you will need to contact your state agency. They will offer you all the information and forms you will need to begin the application process.

Applying: Eligibility for Medicaid, What is Medicare?

The first step when applying is to know the answer to, “What is Medicaid?” Keep in mind that Medicaid is completely different from Medicare. Medicare is a program that provides a qualified individual with insurance for hospitals and general health. It is sometimes referred to as Medicare Part A, Part B and Part D. Part D is used for prescription services. Medicaid involves a broader spectrum of insurance coverage. It can apply to pregnant women, children, individuals with disabilities, individuals over the age of 65 and adults with dependent children. These groups of individuals are not covered under Medicare.

Eligibility is based on state guidelines which are provided from the federal government. The program is typically reserved for poor individuals that cannot afford the means for other insurance coverage. This means that both income and assets are considered during the application review. Full disclosure of all assets is required in order to be considered for Medicaid benefits.

States typically offer online forms that you may download and print, however no states allow you to currently submit an online application for Medicaid.  To obtain clear and concise information about your state’s Medicaid application forms, contact information, and address as well as an overview of your states plan, click here.

Contact Information for Medicaid

As mentioned, this program is administered by the state in which you reside. You will have to contact your state offices in order to obtain the eligibility requirements and the application forms. Most contacts in each state are closely related to health care departments that are within the state. These departments and agencies provide a range of benefits that are available to the residents of the state.

To find the contact information in your state, conduct a simple search on the internet. The search will return with all the information you will need. Each state has its own point of contact, so be sure to locate the right state to obtain the information needed. You will be provided with a physical address, a phone number and any links to websites that are available. You will also have access to downloadable application forms. Always take the time to review the eligibility requirements before filling out an application. The state will have strict guidelines and requirements that must be met for an individual to be considered for any of the benefits associated with Medicaid. To apply for Medicaid online you must first obtain the PDF form which may be downloaded through your state contact website.

Medicaid can be a huge help if you have a low income and are in need of insurance coverage. This program was out into place to help the needy by providing them with benefits and services that they would not have access to otherwise. Again, it is extremely important that the applying individual reveal all sources of income and all assets when applying, as these two factors play a large role in the eligibility of the individual.

Questions and Answers Regarding How to Protect Your Assets from a Nursing Home

There are some important questions to consider when there is a chance that you will be in a nursing home in the years to come. You want to make sure your assets are protected completely.

Question 1: How much do nursing homes cost?

Based on recent studies, the average stay in a nursing home is around two years. The nursing home costs about $80,000-144,000 per year depending on the state with which you reside. The states with higher costs of living tend to have more expensive nursing home care, but even within each state there is a range depending on the quality of facility.

Question 2: Will Medicare pay for the cost of the nursing home?

Medicare does not pay any nursing home expenses. Medicare in home nursing care coverage is available, but the only time Medicare will remit a payment is if the individual is placed in a skilled nursing facility.

Question 3: Medicaid application: What government program will pay for the nursing home?

When applying for Medicaid you must understand that if you have sufficient assets to pay for nursing home care yourself, no government agency or program will pay for your nursing home care expenses. Medicaid is a government program that will pay for most of the expenses if you have already spent your money and have run out. If you are a veteran, you may get additional benefits that will help with the expenses.

Question 4: How to apply for Medicaid: How can I avoid being impoverished due to the high nursing home costs?

This will largely depend on your marital status as well as your planning prior to entering a nursing home. Another determining factor is whether you are already in a nursing home or anticipate a long stay. Unless you are facing a lengthy stay, it is recommended you do not give away your assets.  Giving away or gifting your assets will likely cause you to be denied Medicaid coverage.  If you were to gift or divest your assets to your children within 5 years of entering a nursing home and you apply for Medicaid online or off, you will be denied coverage until the money is returned.  The real problem comes in when the children spend the money and do not have it to give back in a situation like this one.

One way to reduce the cost of nursing home care is to live in a state where nursing home care is less expensive.  For instance, in Texas, Medicaid nursing home care costs are less than in New York.  Yet another example would be in Florida, Medicaid nursing home care costs are less than in California.

Question 5: If my spouse is going into a nursing home, can their assets be transferred to me and then qualify for Medicaid?

This will probably not happen. All non-exempt assets owned by the couple are added together to determine your eligibility for Medicaid. The spouse that is going into the nursing home is disqualified from receiving Medicaid until the individual spouses’ assets total $2,000 or less. The other spouse can retain their non-excludible assets to a maximum of around $100,000 (it changes annually). States have different laws pertaining to Medicaid eligibility. It is best to check with your state to learn what the qualifying factors are.

Some assets are exempt and others are not. You have one opportunity at submitting an application form to Medicaid.  Do not submit it until it has been reviewed by an expert – it could cost you tens of thousands of dollars.

States typically offer online forms that you may download and print, however no states allow you to currently apply for Medicaid online.  To get simple information about your state’s Medicaid program, application forms, contact information, and address as well as an overview of your states plan, click here.

Question 6: Medicaid income eligibility requirements: How much income can I make and still qualify for Medicaid?

The requirement is that you are over the age of 64 years and earn less than $1,700 a month. It is possible to qualify if you earn more than this amount, depending on the cost of the nursing home. The spouse of the individual receiving Medicaid benefits is allowed up to $2,300 of income per month. These figures change annually, so be sure to stay up to date on what the actual qualification requirements are.

There are some important questions to consider when there is a chance that you will be in a nursing home in the years to come. You want to make sure your assets are protected completely.

Question 7: Medicaid income eligibility requirements: Can I transfer income and assets to my children before going into a nursing home and still qualify for Medicaid?

This is likely not possible. When applying for Medicaid you must understand that under the 60-month look-back Rule, Medicaid coverage can be denied if assets have been transferred within 60 months prior to applying for the benefits.  As described previously, if you were to gift or divest your assets to your children within 5 years of entering a nursing home and you apply for Medicaid online or off, you will be denied coverage until the money is returned.  The real problem comes in when the children spend the money and do not have it to give back in a situation like this one.

Question 8: Medicaid application: Is it too late to give away my assets and qualify for Medicaid if I am already in a nursing home?

It’s never too late to reallocate your assets. It is possible to give away all assets and then in 5 years become eligible for Medicaid.

Question 9: Should I make use of a trust to protect my assets?

It is much more beneficial to use an irrevocable trust instead of transferring assets to family members. Seek for the UltraTrust™ for superior irrevocable trust asset protection.

Question 10: How to apply for Medicaid: Are there other ways to protect my assets?

There are many ways to protect assets. Medicaid will not penalize anyone if they choose to spend their assets; however, one must be careful to avoid fraudulent conveyance. Fraudulent conveyance is the act of divesting your assets for less than a fair market value consideration or payment. An expert can walk you through a proper estate plan that will avoid these potential problems or contact Estate Street Partners.

Question 11: How can I protect my home?

Medicaid allows for the applicant to retain a principal residence. Your home is considered exempt property. However, unless there is a surviving spouse, Medicaid will be reimbursed if the home is sold after your death by a lien being put on the home. This is where it is advised to sell or transfer to an irrevocable trust such as the UltraTrust™

Question 12: Is it wrong to hide assets to qualify for Medicaid?

When applying for Medicaid, full financial disclosure is required. It is best to consult with an elder law expert before making any decisions or contact Estate Street Partners.

Question 13: Is this information reliable?

These are just a few questions that are commonly asked. When applying for Medicaid, it is always best to do the research. Find out what the current requirements are for eligibility in your state and consult with an experience attorney or contact Estate Street Partners to discuss your assets. States typically offer online information and forms that you may download and print, however no states allow you to currently apply for Medicaid online.  To get simple information about your state’s Medicaid application eligibility, forms, contact information, and address as well as an overview of your states plan, click here.

Question 14: Should I hire an expert?

Simply stated: absolutely. This is the best way to make sure laws are being followed and your assets are protected.

Question 15: How do I find an expert?

Any expert that practices elder law can help or contact Estate Street Partners. Make sure the expert is experienced and has a good rapport. You want to make sure you trust the right person with your assets.