With the decision of the First District Court of Appeals in Koenig v. Dungey, Medicaid planning attorneys and their clients were given the confidence to employ annuities in Medicaid planning for married couples.
Community Spouses and the Community Spouse Resource Allowance (CSRA)
U.S. Congress sought to protect married individuals living in the community from financial hardship caused by their spouses’ institutionalization in a nursing-care facility by allowing community spouses to maintain some assets—the Community Spouse Resource Allowance—while still permitting institutionalized… Read the rest
Not so long ago, living trusts, also commonly referred to as revocable trusts or family trusts, were used as Medicaid planning tools for married couples in Ohio. A married would put their home in a living trust prior to a Medicaid application. As the home was in a trust and not in the names of the married couple, it was considered a countable resource. As such, it would increase the Community Spouse Resource Allowance (“CSRA”) by the value of the home, thereby allowing the community spouse to spend down excess resources by transferring the home into their individual names rather than spending the… Read the rest
Adult Protective Services (APS) investigates suspected abuse, neglect or exploitation of those 60 and older. Abuse is defined as infliction upon an adult by self or others of injury, unreasonable confinement, intimidation or cruel punishment with resulting physical harm, pain, or mental anguish. Neglect is defined as the failure of an adult to provide for self the goods or services necessary to avoid physical harm, mental anguish, or mental illness or the failure of a caretaker to provide such goods or services. Exploitation means the unlawful or improper act of a caretaker using an adult… Read the rest
Medicare Part A (Hospital Insurance) will pay up to 100 days of skilled nursing care in a nursing home or at home, if the patient is home-bound and it is physician authorized, or inpatient care in a rehabilitation facility.
Coverage includes meals, skilled nursing care, physical and occupational therapy, speech-language pathology service, medications, medical supplies and equipment, and dietary counseling.
There is no charge for the first 20 days. However, there is a co-pay of $152 per day for the next 80 days, with Medicare covering the remaining expenses.
Sometimes a patient is determined… Read the rest
A parent of a child with Special Needs must take special care when preparing an estate plan. Special Needs Trusts are often recommended to ensure that an inheritance will assist a child with special needs without negatively affecting government benefits. Sometimes a parent will choose to forgo a Special Needs Trust in favor of an informal arrangement with surviving siblings. (ie. All the money will be left to the healthy child, Sharon, to care for the child with special needs, Sarah.) The risks of such an informal arrangement are numerous. Using the names from our example above:
• Sharon could… Read the rest