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The 7 Tests of Medicaid Qualification

The 7 Tests of Medicaid Qualification. Understanding What Medicaid Does/Doesn’t Do. Medicaid pays for: Long term care in a nursing home Skilled nursing care at home, in some cases. You are wondering: Will your loved one will get good care if on Medicaid?.

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The 7 Tests of Medicaid Qualification

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  1. The 7 Tests ofMedicaid Qualification

  2. Understanding What Medicaid Does/Doesn’t Do Medicaid pays for: • Long term care in a nursing home • Skilled nursing care at home, in some cases You are wondering: • Will your loved one will get good care if on Medicaid? • Will your loved one get into a good nursing home if Medicaid is in the picture? • Will I have to go broke paying for nursing home care before I can get Medicaid?

  3. The 7 Tests and The “Deal” You have to pass these 7 tests: • 1. Sickness • 2. Age • 3. Citizenship • 4. Residence • 5. Income • 6. Assets • 7. Compliance The Medicaid “Deal” • If you: Pass the 7 tests AND chip in your monthly income • Then Medicaid will pay for Nursing Home care

  4. Private nurse TV and typical extras would normally pay for What Does Medicaid Pay For? Does Pay for: Does not Pay for:

  5. Tests One through Four Test One: Sickness Test Two: Age Test Three: Citizenship Test Four: Residence

  6. Qualified Income Trust* If your Income is below: YOU PASS Satisfying the Income Test Test Five: Income If your Income is above: YOU FAIL Maximum Allowable Monthly Income ($) * The “Deal”: Income still goes to Nursing Home

  7. NON COUNTABLE ASSETS COUNTABLE ASSETS Over 200,000 conditions to consider Available? Un-Available? House/Car (later) House/Car (now) Satisfying the Assets Test Test Six: Assets Be broke: Countable Assets must be less than $2000 Art ? Clothing Furniture Jewelry Checking ($3000) Furniture ($2000) Checking ($1000*) * Strategy: Convert a Countable Asset into a non-Countable Asset Investments If Married*: (almost $100,000*)

  8. Gifting You Qualify! Satisfying the Compliance Test Test Seven: Compliance You can legally shelter assets as long as you play by the rules TIMING IS CRITICAL ASSET $100,000 $2000 Within the Lookback? Penalty Due? Your Assets

  9. Qualifying for Medicaid GOOD NEWS: You don’t need to worry about all these rules and tests NESA • We understand • We’ll shelter every penny the law allows • We provide Peace of Mind NESA cares for YOU

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