Some Frequently Asked Questions
Medicaid and Your Legal Rights:
Q: Will Medicare or private health insurance pay for all or part of long-term nursing home care?
A: NO. There are only short-term benefits available, if any at all.
Q: If a person qualifies for Medicaid, will Medicaid pay for nursing home or hospital care?
A: YES. Subject to certain requirements, Medicaid will pay for the entire cost of care.
Q: What kind of assets could Medicaid require be spent before a person is eligible?
A: Such assets as cash, savings, stocks, life insurance cash values, real property, etc. With proper pre planning and competent advice, all of these assets can be preserved.
Q: What assets can I keep and still be eligible for Medicaid Benefits?
A: Basically they are: personal residence, one automobile, whole life insurance with total face value under $2500, term life insurances, burial plots, burial fund to $2500, household furnishings, wedding rings, IRAs when a distribution is in place, savings of $2000 in cash for a single person and if married, $119,220 in cash for your spouse. Also, DCF counts income-producing property as income, not asset.