Attorney-CPA Joe Cordell and co-host Susan Arthur continue their ongoing discussion on Medicaid and long-term care. They describe the social and homely environment that many long-term care facilities and nursing homes attempt to cultivate, as well as the factors that allow you to qualify for Medicaid.

Joe highlights the evolution in financial strategies on how people spend and save their money as they age. He talks about the events and occurrences, such as trips or large purchases, that someone may want, which may make Medicaid planning a poor fit for them.

Joe talks about the usefulness of an irrevocable trust and how making financial sacrifices through frugal living can come at the cost of experiences in your senior years. Joe and Susan also answer a listener question regarding protecting a savings account, in case the listener incurs health expenses.

They also answer a listener question regarding whether or not there is a downside in bringing a loved one home from a nursing facility, as it pertains to Medicaid and finances, as well as a question asking what to do if you have too much money for Medicaid, but not enough money for nursing home costs.

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive into everything surrounding Medicare, Medicaid, and the long-term care you may receive as you get older. They talk about the differences between Medicare and Medicaid, as well as who these particular programs are for.

They talk about the small percentage of long-term care that Medicare legally is allowed to cover, as well as Medicaid qualifications. Understanding what is required, in order to qualify for Medicaid is necessary if you wish to utilize the program to pay for long-term care costs. Joe talks about the perceptions that many have regarding Medicaid and how utilizing it is not an unethical method in paying for long-term care.

Joe highlights what you can and cannot own, in order to qualify for Medicaid. He also touches on how spouses and dependents factor into the qualifications of Medicaid. Joe also talks about the use of an irrevocable trust and how that may be able to protect your assets at the cost of your access to them.

Joe also talks about the financial transactions that you can take that may result in Medicaid penalty. They also answer a listener question regarding a car and how that can factor into Medicaid qualifications.

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on Medicaid, how to qualify for Medicaid, as well as the important dates involving Medicaid. Joe breaks down the form that is used in the division of assets involved in the Medicaid qualification process, as well as the importance of coming prepared with all of your records and established values.

Joe cautions against cutting corners in this process, detailing how the applications process comes under penalty and could result in criminal prosecution if done incorrectly. He talks about the snapshot date and how the community spouse has a range of value of assets that they can keep, in order to stay qualified for Medicaid.

Joe explains the Name on the Check rule, as well as what minimum monthly maintenance is. He offers several examples involving real life issues that can affect Medicaid and the assets available to the community spouse. He also details the economics of the Medicaid industry regarding facilities and beds for those in need of long-term care.

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their ongoing discussion regarding Medicaid. They discuss how Medicare, as a form of health insurance, and how it is not a method of paying for long-term care. They explain the difference between rehabilitative and custodial care and how Medicare and Medicaid play a factor in paying for care.

Joe explains how many of the facilities that provide care eventually may have to reevaluate whether the care is rehabilitative or not after 100 days and how those who have substantial financial assets can qualify for Medicaid. Joe talks about the importance of choosing a lawyer for a Medicaid issue who has experience in this area.

Joe describes how a snapshot date is the first day of the first continuous 30-day period of hospitalization or institutionalization and how that date can define what assets are available to the community spouse. Joe also describes the difference between the snapshot date and the application date.

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the ins and outs of Medicaid on this episode of ElderTalk with Joe Cordell. They break down the necessary steps in planning as we age. Susan talks about how emergencies can incite the need for Medicaid.

Joe and Susan clarify the income qualifications necessary for Medicaid, as well as how having a family member help with some of the care can be beneficial to your living arrangement and costs. They discuss how rehabilitation can affect issues surrounding Medicaid and eligibility.

Susan asks Joe what lawyers need to know when discussing qualifying for long-term care through Medicaid, and Joe explains the need for timelines and snapshot dates. He also explains how specific laws have been passed, in order to make sure that those in the nursing home, as well as the community spouse, can be covered.

They also talk about the importance of asset division, as of the application and as of the snapshot date, when applying for Medicaid.

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