It can be maddening to think about Medicaid filing a claim against your estate to recoup the costs of long-term services and support. However, there are legal ways to protect your assets from a Medicaid recovery claim after you’re gone. With proper planning, you and an experienced estate attorney select the best legal solution to avoid Medicaid estate recovery...
Continue ReadingFinancial Advisor’s recent article, “Annuities Can Help or Harm Medicaid Eligibility,” explains that Medicaid rules include both asset limitations and income limitations. Annuities can be exceptionally beneficial for a retirement income plan, such as for an older individual facing long-term care costs. However, the annuity will be viewed as a resource available for payment, which will make the applicant ineligible for Medicaid....
Continue ReadingThe Illinois Department of Human Services has 90 days from when basic Medicaid recipients apply, to determine if they are eligible for long-term Medicaid. If not, they’ll be automatically eligible for the long-term benefits, according to a recent ruling from a federal judge. The Cook County Record’s recent article, “Judge orders IL state agencies to move quicker on applications for long-term Medicaid...
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