Always Put a Caregiver Contract in Writing

Many families hire friends or family members to provide caregiving to loved ones in times of need. After months or years of paying a caregiver and then turning to a government benefit like Medicaid for Long-Term Care coverage, these families learn that the caregiver payments are counted as gifts and are penalized for them. When hiring a…

How are Medicare and Medicaid Different Regarding Long-Term Care?

Although their names are confusingly alike, Medicaid and Medicare are quite different programs. Both programs provide health coverage, but Medicare is an “entitlement” program, meaning that everyone who reaches age 65 and is entitled to receive Social Security benefits also receives Medicare. (Medicare also covers people of any age who are permanently disabled or who have end-stage…

Dealing with Medicaid Spend Down

In order to be eligible for Medicaid, applicants must have no more than $2,000 (as of 2016) in “countable” assets (the dollar figure may be slightly more, depending on the state). Assets, as distinct from income, for Medicaid purposes are checking and savings accounts, CDs, Stocks, Bonds, personal property, vehicles, real estate, business, etc. Medicaid does exclude…