Dale M Krause
Expert
When an individual enters a nursing home with limited financial resources, they may need to apply for Medicaid to help pay for long-term care. However, Medicaid has strict eligibility requirements, including a limit on an individual's assets. In most states, an individual must have no more than $2,000 in cash assets to qualify for Medicaid.
If someone has over $2,000 in cash assets when they enter a nursing home, they must engage in Crisis Medicaid Planning as soon as possible to protect their investments. This type of planning involves restructuring their assets to comply with Medicaid rules, allowing them to become eligible for benefits while preserving their wealth as much as possible.
It is important to note that Crisis Medicaid Planning should be done with the guidance of an experienced attorney or financial professional specializing in this type of planning. They can help ensure that the individual can protect their assets and qualify for Medicaid benefits without violating any rules or regulations.
If someone has over $2,000 in cash assets when they enter a nursing home, they must engage in Crisis Medicaid Planning as soon as possible to protect their investments. This type of planning involves restructuring their assets to comply with Medicaid rules, allowing them to become eligible for benefits while preserving their wealth as much as possible.
It is important to note that Crisis Medicaid Planning should be done with the guidance of an experienced attorney or financial professional specializing in this type of planning. They can help ensure that the individual can protect their assets and qualify for Medicaid benefits without violating any rules or regulations.
