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It's about that time when NYS is renewing coverage through the health exchanges for next year. I found this text in the rights and responsibilities that you are agreeing to when applying on the NYS health exchange website. The section below is about those who qualify for Medicaid under ACA: https://nystateofhealth.ny.gov/indiv...Subsidized.pdf
I am not a lawyer but that sounds to me like NYS Medicaid will NOT try to recover assets from estates of those over 55 other than nursing home and related expenses. In other words Medicaid expenses for non-nursing home costs will not be recovered. Anyone know for sure?
was this document for someone over 55 ? there is no recovery for anyone under 55 . this document may not reflect over age 55
Last edited by mathjak107; 08-19-2017 at 03:45 AM..
The Medicaid provision in this document about estate recovery says 55 or over:
"Recovery from assets in my estate upon my death is limited to the amount Medicaid paid for the cost of nursing home care, home and community based services, and related hospital and prescription drug services received on or after my 55th birthday."
The document is what you agree to when applying through the New York State of Health exchange for coverage under the Affordable Care Act (Obamacare). It is not regular Medicaid/Child Health Plus, it is expanded Medicaid under ACA.
Edit: I also called the New York State of Health Exchange and asked about asset recovery under expanded Medicaid and the representative told me it was limited to nursing home and related expenses, and pointed out the agreement I listed above.
Last edited by martinjsxx; 08-19-2017 at 03:59 AM..
interesting that it makes no age 55 exception yet the laws as i see them on line still show age 55 as the exception , so still not 100% sure . after dealing with the people at social security i found they are very limited in what they know so i never trust low level customer service people for correct answers
if i see our estate /elder law attorney i will ask them . many times there may be twists like the age of your children , any disabled children , etc . not saying that is the case but you would think somewhere if this was the case it would say it very clearly on one of the sites but it does not .
they only talk about ny reversing the fact it was going after non probated assets prior and now they went back to only probated over the age off 55 for health insurance.
our attorney is doing a seminar next wed and we may go so i will get the definitive answer as to any twists or if anything in one's personal situation other than magi effects that .. he is a specialist in that area .
i am not disagreeing that this is the case , but i always go to the most knowledgeable sources for my answers .
Last edited by mathjak107; 08-19-2017 at 04:27 AM..
Federal Medicaid law states that the community spouse can keep all of his or her assets by simply refusing to support the institutionalized spouse. This portion of the law, known as "just say no" or "spousal refusal," is generally not used except in New York and Florida, where the states have adopted the federal law in this area, and in Connecticut, where a federal court has upheld this right.
Under the law, if a spouse refuses to contribute his or her income or resources toward the cost of care of a Medicaid applicant, the Medicaid agency is required to determine the eligibility of the nursing home spouse based solely on the applicant's income and resources, as if the community spouse did not exist. In 2005 a federal appeals court upheld the right of the wife of a Connecticut nursing home resident to refuse to support her husband. The husband was able to qualify for Medicaid coverage, and assets that he had transferred to his wife were not counted in determining his eligibility.
After awarding Medicaid benefits to the institutionalized spouse, the Medicaid agency then has the option of beginning a legal proceeding to force the community spouse to support the institutionalized spouse. However, this is not always done, and when such cases do go to court, courts in New York generally allow the community spouse to keep enough resources to maintain the spouse's former standard of living. If the Medicaid agency chooses not to sue the community spouse for support, it can file a claim for reimbursement against the community spouse's estate following his or her death.
In second-marriage situations, where the healthy spouse truly refuses to support the nursing home spouse, the "just say no" strategy is sometimes used in states other than the three mentioned."
I am a senior citizen and husband is older than I am but most resources are in my name and have been since the beginning of time. They are held ITF him in revocable trusts. Under $100K has his name anywhere near it (Joint savings and checking and a $50K IRA.)
Perhaps our recent marriage was not a wise fiscal choice.
Anyways, I think I might be okay but in the event of his needing custodial nursing home care and I choose spousal refusal, I guess it would not matter much to me if New York gets my assets rather than some charity after I croak. If I go first, everything passes to him without probate.
be careful of joint accounts . quite a few institutions did away with beneficiaries on joint accounts in case of common death .
i found out two days ago all our kids were no longer shown as beneficiaries at vanguard . i questioned it and was told they no longer allow beneficiaries on joint accounts .
no problem at fidelity though . they still allow it .
any time you introduce more documents beyond a simple beneficiary listing you open the door for potential problems .
we already hit a snag 2x in our life time where we had issues because of poorly constructed wills and trusts .
so i like beneficiary listings , they are simple and clean . i rather not have to use trusts to pass things if i can avoid it and that is what vanguard wants you to do .
We had one nightmare scenario with partner's mother. She was in a nursing home (Medicaid) and brother mis-used power of attorney to move assets from mother to himself. Medicaid clawed it back and the settlement got us near bupkis.
Needless to say, this did not do much for fraternal relations.
documents always have the potential for all kinds of potential snags ,that is why for simple things like passing to heirs we like beneficiaries first .
we had a closing on a refi killed by the title company when the word "only " was missing from my ex wife's will as in "only child "
we had a trust deemed defective because it was missing a sentence about what happens if the child predeceases the parent .
it cost a few hundred k because of that sentence .
so i am a big believer in keep in simple .
even power of attorney can be an issue as new york changed forms to a more complex statutory form because of elder care abuse . financial institutions do not have to accept older non statutory forms .
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