Medicaid Planning and Qualified Income Trusts

Even if your gross income (prior to deduction) is above the minimum required to qualify for Medicaid ($2,199 for 2015), you may be able to become eligible by setting up a Qualified Income Trust with the assistance of an attorney licensed in Florida.  The income you receive in excess of the minimum income requirement for Medicaid eligibility can be transferred into a Qualified Income Trust account and, as long as you continue to transfer this income every month, you may be able to qualify for Medicaid coverage.  Unlike Medicare, Medicaid can be used to pay for long term care services, such as assisted living facility or skilled nursing facility bills, which can very quickly become extremely costly.

To find out more about becoming eligible to receive Medicaid benefits to cover long term care, contact Board Certified Elder Law Attorney Babette Bach, Esq. at (941) 906-1231.  Babette is experienced in giving Medicaid eligibility advice and navigating the process of applying for and receiving Medicaid benefits while protecting your assets to the highest degree possible.