Frequently Asked Questions
What Is Medicaid?
Too much of the following assets can keep you from qualifying for Medicaid benefits: cash, savings accounts, stocks, bonds, mutual funds, CD’s, real estate (other than your home if it has a Home Equity Interest of $506,000 or less), cash value life insurance. A countable asset is anything that can be “cashed in” or anything that can be converted (liquidated) to cash.
What is Medicaid Planning?
Many people find it extremely challenging to meet the specific limitations set on income and property or possessions under Medicaid law. The income of the person applying for Medicaid Nursing Home benefits may not surpass $2,022 per month. When considering assets, the assets considered non-exempt may not exceed a value of $2,000. The spouse of a married applicant who resides in the same community is allowed assets up to the amount of $109,560.
Will Florida Medicaid Take my Home?
What is Medically Needy (Share of Cost)?
Once an individual meets the share of cost for the month, the individual must contact DCF to complete bill tracking and approve Medicaid for the remainder of the month.
Nursing Home Medicaid
After a FREE fact finding consultation, we will provide you with a wealth preservation plan that will protect you from having to spend down your life savings and still allow you to qualify for Medicaid benefits.
What is Nursing Home Medicaid or ICP?
It’s designed to pay for Nursing Home care of Elder’s or the Disabled.
There is an “Income & Asset Test” that must be met in order to qualify.
Medicaid provides a broad level of health care coverage including:
- Doctor’s Visits
- Hospital Expenses, Nursing Home Rehab and Resident Services
- In 2009, the average monthly nursing home bill was between $6,000 to $8,000 per month in the state of Florida.
- Once on Medicaid, your obligation to the nursing home is your monthly income, minus a Personal Needs Allowance.
- With planning, your assets can be protected.
What is Long Term Care Diversion?
The Long Term Care Diversion Program has limits on income and assets. After a FREE fact finding consultation, we can provide you with a wealth preservation plan that will protect you from having to spend down you lifetime savings and still allow you to qualify for the Long Term Care Diversion Program.
Long Term Care Diversion Services
- Activities of Daily Living (ADL’s)
- Nursing Services for a debilitating, degenerative or chronic condition
- Administration of Medications
- Respite Care
- Homemaker Services
- Light House Keeping, Etc.
- Eligibility Requirements
- 65 Years or Older
- Medicare Eligible, Parts A & B
- Meet the same income & asset test as nursing home Medicaid
- This is where our services play an important role.