Are You Struggling To Figure Out How To Pay For Long Term Care For A Loved One In A Nursing Home?
We often think that Alabama Medicaid is the only way to pay for nursing home for our spouse or parent.
However, Medicaid is simply one solution among a number of solutions.
To properly determine how to pay for nursing home care, we have to look at the risk and then all of the options before we can adopt a … (Read more)
We previously discussed in our 2019 Alabama Medicaid series that there is a 60 month (5 year) look back period where Medicaid is looking for gifts. But what happens if there are gifts in the last 60 months?
Let’s talk about this and run through some examples.
“What is the penalty divisor for gifts?”
The number is $6,200.
So what we do is take the total amount of gifts and divide that number by $6,200. The answer is the … (Read more)
Continuing our series on Alabama Medicaid in 2017 for long term care in an nursing home, let’s talk about the Monthly Personal Needs Allowance.
This focuses on income, not assets or as Medicaid calls them — resources.
Quick reminder about income under Alabama Medicaid
For the person going into the nursing home, the monthly income cap is $2,205 (anything over that we use a “Miller Trust” to qualify).
If married, we make sure the community spouse (still living … (Read more)
As a general rule, all but $30 of the income of the person going into the nursing home must be spent on the nursing home. But as you will see below, sometimes we can take (divert) some of the income from the “institutional spouse” and give that to the spouse still at home. This relates to the “Minimum Monthly Maintenance Needs Allowance” (MMMNA) under Alabama Medicaid. It’s a mouthful but it is very helpful to families.
Let’s take … (Read more)
Continuing our series on Alabama Medicaid, let’s talk about the income cap and also what a “Miller Trust” is as this relates to the income cap.
To qualify for Alabama Medicaid, we have to satisfy the “income cap”. If we don’t, then we won’t qualify unless we can fix the problem with a “Miller Trust”.
“What is the monthly income cap for Alabama Medicaid in 2017?”
$2,205 is the monthly income cap for 2017.
Basically this means that the … (Read more)
Continuing our series on Alabama Medicaid in 2019, you are thinking about long term care and how that relates to giving away assets. Because there is a concept under Alabama Medicaid about a “look back” period of 60 months.
Let’s do this:
- Talk about the look back period;
- Purpose of the look back period; and
- How this relates to planning for long term care.
What is the look back period under Alabama Medicaid in 2019?
If you apply for, … (Read more)