An Online Resource Center for Michigan Residents Seeking Legal Help in Preparing for Medicaid.
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RESOURCE CENTER
PrepareForMedicaid.com
- It's our mission to provide the tools, knowledge and resources to better
understand the inner workings of the qualification for Medicaid assistance
in the state of Michigan.
It's been our experience that there's few things as misunderstood as the Medicaid qualification process in our state.
It's been a pleasure and a blessing to provide the facts in this area, and to help hardworking families and individuals prepare financially and legally for Medicaid.
If you're looking for clever tricks or loopholes, you won't find them here. What you will find is facts. You'll see the legally approved methods to ensure your wishes for your assets are protected to the fullest extent allowed by Michigan State law.
The
Top Eight Mistakes People Make with Medicaid Qualification
1. Thinking it's too late to plan.
It's almost never too late to take planning steps, even after a senior
has moved to a nursing home.
2. Giving away assets too early.
First, it's your money (or your house, or both). Make sure you take care
of yourself first. Don't put your security at risk by putting it in the
hands of your children. Precipitous transfers can cause difficult tax
and Medicaid problems as well.
3. Ignoring important safe harbors created by Congress.
Certain transfers are allowable without jeopardizing Medicaid eligibility.
These include: transfers to disabled children, caretaker children, certain
siblings and into trust for anyone who is disabled and under age 65; a
transfer to a "pay-back" trust if under age 65; and a transfer
to a pooled disability trust at any age.
4. Failing to take advantage of protections for the spouse of a nursing
home resident.
These protections include the purchase of an immediate annuity, petitioning
for an increased community spouse resource allowance, and in some instances
petitioning for an increased income allowance or refusing to cooperate
with the nursing home spouse's Medicaid application.
5. Applying for Medicaid too early.
This can result in a longer ineligibility period in some instances.
6. Applying for Medicaid too late.
This can mean the loss of many months of eligibility.
7. Not getting expert help.
This is a complicated field that most people deal with only once in their
lives. Tens of thousands of dollars are at stake. It's penny wise and
pound foolish not to consult with people who make their living guiding
clients through the process.
8. Confusion about the difference between lifetime liens on property
and estate recovery.
There are a number of exceptions to lifetime liens on property, but for
estate recovery there is only a deferral for a surviving spouse and a
hardship waiver.
Michael E. Thomas, P.C.,
Attorney at Law
5206 Gateway Centre, Suite 22
Flint, MI 48507
MEDICAID HOTLINE
810-235-6238
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