U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-27-2015, 12:25 PM
 
13,910 posts, read 7,405,593 times
Reputation: 25389

Advertisements

Quote:
Originally Posted by mathjak107 View Post

like i say , 3 states support that view now as policy and many more are coming on board with it . they are forcing medicaid in to negotiating a price with the stay aat home spouse that does not leave them eventually broke .
You do realize that the affluent states like Connecticut pay 50% of the Medicaid bill? A judge can rule however they want. The pragmatic reality is that Connecticut taxpayers are footing the bill. If the state jacks up taxes to fund this, businesses will simply move to lower cost areas in the country. Other than lower Fairfield County, Connecticut is really struggling. Hartford has lost 2/3 of their insurance jobs over the last 20 years. It's painful to watch.
Reply With Quote Quick reply to this message

 
Old 12-27-2015, 12:27 PM
 
71,563 posts, read 71,730,589 times
Reputation: 49156
if the state doesn't like the judges ruling or any of the means in place for protecting assets then they can try to fight it but it already came down from ct's top court . in the mean time the tools are in place in all the states to be utilized .

my own state , ny encourages us to go on mec (modified extended medicaid ) by issuing partnership deals . they even created a special form of medicaid called mec which is medicaid without the income and asset amount restrictions of regular medicaid .

anyone is free not to take advantage of any of these legal tools if they rather leave themselves near poverty . , that is your choice . we don't make the rules and laws , we just follow them as best to our advantage as we can .

Last edited by mathjak107; 12-27-2015 at 12:44 PM..
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 01:59 PM
 
Location: WA
5,395 posts, read 21,395,985 times
Reputation: 5898
Quote:
Originally Posted by mathjak107 View Post
...
my grandfather was in a real dive on medicaid and it was the only place we could get him in .
...
Yes, I understand.

Before any of you make snap decisions take a look at what places that accept Medicaid look like. When shopping for my father we visited six nursing homes in North Texas that appeared to meet requirements (although there are restrictions as mentioned). Of the homes saw I would not have put my father into four of them without losing sleep every night. They were just holding pens for the elderly with minimal supervision and nursing. One of them has such a smell I could not stay ten minutes.

Only after a year on Medicare and private insurance would the good nursing home he was in start negotiation on what level of care they would provide on Medicaid (limited beds in that category) and what we would have to pay for some supplies and care. We accepted but my dad passed only months later.

This was over ten years ago and it is my understanding the situation is not better today.
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:07 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by cdelena View Post
Only after a year on Medicare and private insurance would the good nursing home he was in start negotiation on what level of care they would provide on Medicaid (limited beds in that category) and what we would have to pay for some supplies and care. We accepted but my dad passed only months later.
Medicare does not pay for SNF/nursing home. He must have been using his private insurance only (?)
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:16 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by silibran View Post
I don't know how putting assets in a trust can protect from Medicaid though. You don't get Medicaid unless you have no assets, except for perhaps a house. But every state is different.
In "Medicaid planning," there are several kinds of Irrevocable Trusts, including Irrevocable Income Only Trust (IIOT), Testamentary Trust, and things like Irrevocable Life Insurance Trust (ILIT) to minimize estate taxes. Only an estate atty can spell these out in detail for the state one lives in.
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:18 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by mathjak107 View Post
if the state doesn't like the judges ruling or any of the means in place for protecting assets then they can try to fight it but it already came down from ct's top court . in the mean time the tools are in place in all the states to be utilized .

my own state , ny encourages us to go on mec (modified extended medicaid ) by issuing partnership deals . they even created a special form of medicaid called mec which is medicaid without the income and asset amount restrictions of regular medicaid .

anyone is free not to take advantage of any of these legal tools if they rather leave themselves near poverty . , that is your choice . we don't make the rules and laws , we just follow them as best to our advantage as we can .
I'm not sure how it fits in but I've read about a new trend of nursing homes suing for legal guardianship of the resident, to protect their financial interests. What do you know about this.
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:24 PM
 
9,681 posts, read 15,864,806 times
Reputation: 16033
Quote:
Originally Posted by organic_donna View Post
If the remaining spouse is still living in the house, it is not included. They can only go after the house if the person was single. The house, one car, furniture, jewelry and in AZ $2,000 cash are excluded. I know because I filled out the form with a Medicaid caseworker.

How would they know what jewelry you have, unless you wear it to a Medicaid interview? Or have created some paper trail, like an insurance rider, and still how can they get into that? At least here in Texas they leave you your wedding ring....
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:38 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by Ellwood View Post
Eight years ago we placed our home in an revocable trust. Our children are the trustees. We had an attorney who specialized in seniors. At the same time we had our Wills, POA, living wills, etc. updated. It cost us about $1000 for both of us for the entire package.

We did this so that should if we had to go in a nursing home the house would not be available for them to sell should our other assets be depleted.
Are you and/or your spouse listed as a trustee on the RT? If you are, and you (not your children) own the deed to your home, I'm not so sure it's exempt from being a countable asset. Please post any correction to this.
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:49 PM
 
71,563 posts, read 71,730,589 times
Reputation: 49156
Quote:
Originally Posted by RiverBird View Post
I'm not sure how it fits in but I've read about a new trend of nursing homes suing for legal guardianship of the resident, to protect their financial interests. What do you know about this.
i know nothing about this yet
Reply With Quote Quick reply to this message
 
Old 12-27-2015, 02:50 PM
 
71,563 posts, read 71,730,589 times
Reputation: 49156
Quote:
Originally Posted by RiverBird View Post
Are you and/or your spouse listed as a trustee on the RT? If you are, and you (not your children) own the deed to your home, I'm not so sure it's exempt from being a countable asset. Please post any correction to this.
revocable trusts are not exempt and are all countable as assets . they just don't probated
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top