Medicaid and Asset Protection Archives - Cona Elder Law

Category Archives for Medicaid and Asset Protection

A piece of paper that says medicaid eligibility.

Medicaid Home Care Changes on the Way

On or after November 8, 2021, new regulations governing Medicaid home care benefits, including Personal Care Services and Consumer Directed Personal Care Services, will go into effect. Significant changes to benefits include: Routine assessments for home care services are reduced from every 6 months to once a year. A physician’s order is no longer required […]

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New York Medicaid Rates in 2020

Medicaid Rates in 2020

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Medicaid Regional Rates: The following figures represent the Department of Health’s assessment as to the average cost of nursing home care in each region. These figures are used to calculate Medicaid penalty periods for gifts and asset transfers. Medicaid Income and Resource Allowances: The New York State Department of Health has issued resource and income allowances […]

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5 Answers that Clear Up Medicare Annual Election Period Confusion

5 Answers that Clear Up Medicare Annual Election Period Confusion

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Published originally on BestCompany.com: Just when you started to think health insurance made sense, you became eligible for Medicare! Medicare has its own processes, rules, and enrollment periods that can be tricky to understand at first. “Medicare has several different enrollment periods, so it can be confusing to keep track of everything and remember which enrollment period is […]

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An elderly woman enrolling for medicare on her laptop

5 Medicare Tips: Open Enrollment October 15 to December 7, 2019

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Medicare’s Open Enrollment Period runs from October 15 to December 7, 2019.5 tips to consider during this period:Read your Annual Notice of Change mailed to you every September informing you of any changes to your plan, such as changes in premiums, co-pays, pharmacies and prescription drug coverage.Review your coverage, costs and doctors to determine if […]

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Maintaining Medicaid Eligibility After the Death of a Spouse

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It goes without saying that a spouse’s death is traumatic for the whole family. But for a surviving spouse who receives Medicaid benefits, it is even more stressful and harrowing as their eligibility for Medicaid may now be in jeopardy. Under New York’s estate laws, a surviving spouse is entitled to the greater of $50,000 or […]

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Tax Planning vs. Medicaid Planning Avoid These Costly Mistakes

As you prepare to file your tax return this year, it’s a good time to re-visit the difference between the IRS rules and the Medicaid eligibility rules in order to avoid costly mistakes. Take this example: you may wish to give a gift of $15,000 to each of your children and grandchildren to benefit from the […]

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An elder law attorney setting up a medicaid asset protection trust for a client

Trust Lending for Medicaid Asset Protection Trusts: Your Clients Do Have A Choice!

Guest blogger Frank Melia of Quontic Bank answers questions regarding trust borrowing options for clients who have transferred their property into a Medicaid Asset Protection Trust (M.A.P.T.). Why most Banks do not offer Mortgages to Properties held in M.A.P.T.s: Historically, Brokers & Banks follow guidelines set by Fannie Mae & Freddie Mac and they do […]

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Medicaid Spotlight: What is Spousal Refusal?

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Federal law allows a spouse who requires long term care to transfer assets to the other spouse in order to receive Medicaid benefits immediately. Transfers between spouses are exempt, meaning there is no penalty or waiting period even if the transfers are made within the 5-year look back period. Once the assets have been transferred to […]

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Experts: It’s Never Too Early or Too Late to Plan for Your Golden Years

Far too many people wait much too long to make plans for their retirements, as well as all aspects of old age for that matter, with some never making such plans at all. The consequences of not planning can be devastating for them and their families, according to a group of experts who discussed aging on […]

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Medicaid Home Care Update – Guildnet Closing in January

Guildnet MLTC, FIDA and Medicaid Advantage Plus plans are closing as of January 1, 2019. Official notices are being sent to all Guildnet members in mid-October 2018. What You Need to Know ♦ You will receive a notice from New York Medicaid Choice advising you to choose a new plan. ♦ You will have 60 days to select and […]

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