Aging costs in Delaware and across the United States are very expensive, leaving many older adults impoverished and without adequate care needed to survive. Medicaid asset protection is a way for aging adults to protect a portion of their assets while receiving...
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Medicaid asset protection
What is the Medicaid lookback period?
The cost of nursing home care is prohibitively expensive in Delaware and around the country. However, many people will reach a point where they can no longer safely live on their own and will need to move into nursing facilities. Since the average monthly cost of a...
Three spend-down strategies to qualify for Medicaid
Many people in Delaware receive the health care assistance they need by qualifying for Medicaid. This health insurance program helps people with all sorts of medical needs who find these expenses hard to pay for. However, your income will need to be at a certain...
Will you need to spend down for Medicaid?
Medicaid is an insurance program that helps Delaware residents pay for health care when they are unable to afford a health care insurance program on their own. As part of the estate planning process, you may want to consider a Medicaid spend-down strategy to ensure...
Some ways to shelter assets from Medicaid
As you grow old, you need to start thinking about whether you’ll require long-term care. Although you may not want to think about your options, it’s wise to understand that 70% of Delaware residents aged 65 and above will require this care. It might not be the old age...
What is a Medicaid trust?
Most people in Delaware will need living assistance when they reach a certain age. Some people are willing to accept assistance but have no idea how they'll pay for it when the time comes. If you have too many assets, you might be told that you don't qualify for...
Understanding Medicaid Requirements and Medicaid Asset Protection
To qualify for Medicaid, an individual must be at least 65 years or older. A person can qualify for the government program sooner if the Social Security Administration deems them permanently disabled. There is also an income requirement for services such as the...
How a Medicaid Asset Protection Trust can help
Thanks to modern medicine and a wealth of easily accessible nutrients, Americans often live past the retirement age. While this means most Delaware residents can have long, active lives, it also increases the chance that you may need long-term care services later in...
Can I transfer assets to protect them from Medicaid?
Many adults in Delaware are looking to Medicaid to help them defray the costs of long-term care. It is a reality that life spans are extending across the United States, and many senior citizens are finding it necessary to move to an assisted living home or hire...