Skip to main content
Tag

Medicaid Planning

Does Medicaid Consider the Assets of My Unmarried Partner?

By Asset Protection Planning, Government Benefits, Medicaid Planning

For unmarried individuals applying for Medicaid who have not commingled their funds, the state will not count the assets and income of the individuals’ partners.

The state will treat each partner as single when determining their eligibility for Medicaid. It is important for unmarried couples to be aware of transfer rules, however. For married couples, they are free to transfer assets to one another, but for unmarried couples, they may be penalized for a transfer of assets with a period of ineligibility for benefits.

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.

 

 

September 9, 2016
Love0

Florida launches ABLE United Program

By Asset Protection Planning, Elder Law, Government Benefits, Medicaid Planning

Being one of the first ABLE (Achieving a Better Life Experience) savings plans in the country, Florida’s ABLE program now allows individuals with disabilities to maintain their eligibility for government benefits while owning more than $2,000 in assets.

As of July 13, 2016, Intuition ABLE Solutions has partnered with the Florida Prepaid College Board to launch the program. Qualifying individuals are required to hold their assets in ABLE accounts, which are modeled after college savings plans. The disabled individual acts as the owner and beneficiary of the account, and the growth of the account is tax-free. Up to $100,000 of the account is considered a non-countable resource. Funds may be withdrawn tax-free for qualifying expenses such as transportation, medical expenses, and housing.

However, there are several restrictions to the program. The individual applying for the program must have developed the disability by his/her 26th birthday. When the individual passes away, the state government must be paid back from any funds that remain in the account. Also, no more than $14,000 per year may be contributed to the account by the individual. The maximum limit of the account is $418,000.

If you have further questions on this topic or want to find out whether you or a loved one could benefit from an ABLE account, contact our office at (941) 906-1231 to schedule an appointment with one of our attorneys.

August 9, 2016
Love0

How is the appointment of a health care surrogate part of an advance directive?

By Elder Law, Estate Planning, Medicaid Planning

It is important for everyone, young and old, to plan for both end-of-life care and unforeseen medical problems. There are certain documents you can prepare to appoint a trusted person to assist you with health care decisions if you are incapacitated.

 

Health Care Surrogate

A great first step in preparation for this is to designate a health care surrogate. A health care surrogate is an appointed individual who makes health care decisions for you when you become unable to make them yourself. This individual advises doctors and makes important medical decisions for you. Your living will and appointment of a health care surrogate are two documents that can guide your health care decision-making. A health care surrogate does not have any control of your finances unless indicated. Typically, you would designate a durable power of attorney to have access to your finances.

 

If you have further questions about this topic or setting up your estate and end-of-life documents, contact one of our experienced estate planning attorneys at (941) 906-1231.

July 8, 2016
Love0

Services Medicaid Planners Are Not Authorized to Provide

By Elder Law, Medicaid Planning

Due to a recent Florida Supreme Court decision, many Medicaid Planning services may only be provided by licensed attorneys.  Non-lawyers who provide Medicaid Planning are engaging in the unlicensed practice of law and, because non-lawyers in the Medicaid Planning field are unregulated, often give misguided advice which financially harms clients.

The following are some services which can be legally provided by attorneys but not by non-lawyer Medicaid Planners in the state of Florida:

  • Drafting income trusts
  • Drafting personal service contracts
  • Giving Medicare advice concerning Observation Status, Coverage, and Dropping Medicare Advantage Plan
  • Helping with placement issues on the Medicaid waitlist for the Diversion program
  • Reviewing long term care insurance policies and advising on how to maximize benefits
  • Updating estate planning documents
  • Helping get SSDI or SSI for those under age 65
  • Protecting disabled dependents
  • Advising on pros and cons of all planning options

If you are looking for Medicaid planning advice, be sure to consult a qualified and experienced Elder Law attorney. Babette Bach is nationally certified as an Elder Law Expert by the National Elder Law Foundation and is also a Florida Board Certified Elder Law Attorney.  To consult with Ms. Bach, contact our office at (941) 906-1231.

February 23, 2016
Love0

Do IRAs affect Medicaid eligibility?

By Medicaid Planning, Tax Law

With proper Medicaid planning, IRAs can be considered exempt for Medicaid eligibility.  This means that the money in an IRA does not need to be spent in order for someone to qualify for Medicaid benefits.  These benefits can be used to help pay for assisted living facility costs without depleting IRA assets.

For personal Medicaid planning services, please contact our Florida Board Certified Elder Law Attorney Babette Bach at (941) 906-1231.

August 28, 2015
Love0

How can I help my loved one with special needs save for the future without affecting their state and federal benefits eligibility?

By Estate Planning, Government Benefits, Medicaid Planning

A new federal law allows individuals to help their loved one with special needs save for their future without jeopardizing their public benefits.  In December of 2014, the Federal Achieving a Better Life Experience (ABLE) Act passed through Congress.  This legislation allows anyone who became disabled before age 26 to save up to $100,000 (a large increase from the previously allowed $2,000) in a tax free account which will not affect their eligibility for state or federal benefits.  The money in an ABLE account can be used for education, housing, transportation, employment support, personal support services, legal fees, health expenses, funeral expenses, and financial management.  Regulations for these accounts are still in development but accounts should be able to be set up starting around mid-June of 2015.

If you have further questions or need Medicaid planning services for your loved one with special needs, contact Babette Bach, Esq., a Florida Board Certified Elder Law Attorney, at (941) 906-1231.

July 24, 2015
Love0

Medicaid Planning and Qualified Income Trusts

By Elder Law, Estate Planning, Medicaid Planning

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.

July 10, 2015
Love0

Who Can Help Me with Medicaid Planning?

By Elder Law, Medicaid Planning

A January 15, 2015 ruling by the Florida Supreme Court makes it illegal for a non-lawyer to provide services assisting in Medicaid planning. The decision classifies the following actions as the unlicensed practice of law:

  • Giving legal advice regarding the implementation of Florida law to obtain Medicaid benefits.
  • Drafting personal services contracts.
  • Preparing and executing qualified income trusts.

Any of the above offenses are punishable by five years in prison. Additionally, anyone who receives the services listed above from a non-lawyer is considered to be aiding and abetting a crime.

Helping someone fill out their Medicaid application is not considered to be in violation of Florida laws. It is advice given before the application is filed by non-attorneys which has been criminalized.

If you are in need of Medicaid planning services, contact our Florida Board Certified Elder Law Attorney, Babette Bach, Esq. at (941) 906-1231 to discuss whether you or your loved one would benefit from asset protection planning.

June 9, 2015
Love0

Qualified Income Trusts

By Asset Protection Planning, Medicaid Planning

Qualified income trusts (QITs) can be used to help a person qualify for Medicaid whose gross income before any deductions is above the limit to qualify for Medicaid long-term care services.  The current income limit for Medicaid long-term care services (in 2015) is $2,199 per month.  This type of trust agreement must be irrevocable and must be approved by the Department of Children and Families’ legal office.  Deposits must be made into your QIT each month you wish to qualify for Medicaid.  After the account holder’s death, the funds remaining in the QIT will be used to pay back Medicaid up to the amount received and used for long term care.

If you have questions about qualifying for Medicaid to help pay for long term care, contact our Florida Board Certified Elder Law Attorney Babette Bach, Esq. at (941) 906-1231.

 

 

March 25, 2015
Love0