There are many benefits to Medicaid Assistance, including the ability for seniors to age at home and receive care from a family member in a familiar environment.
However, in order to qualify for Medical Assistance for Home Care Services/Community Medicaid (Medicaid), an individual’s assets cannot exceed $15,150.00—this is the combined total of all assets in all accounts, i.e. checking, savings, and the cash value of a life insurance policy. Retirement Accounts (IRAs, 401(k)s, etc.) are exempt so long as they are in pay status in accordance with the Medicaid rules. There is also a statutory $825.00/month allowance for income, plus a $20.00/month “disregard.”
When it comes to meeting these requirements, there are many ways that an elder law attorney can help an individual preserve and protect the assets, and qualify for the program.
For example, the income over $845.00 can be protected by establishing a Pooled Income Trust. A Pooled Income Trust is created with a charitable organization (only certain, specific charities can be used for the purpose).
Once someone has been enrolled in Community Medicaid, the program offers coverage for Home Care / Personal Care Aide. As mentioned, one of the newest benefits is that a family member can be paid by the Medicaid Program. The Consumer Directed Personal Assistance Program (CDPAP) under Medicaid administers this benefit, but there is a caveat: the family member cannot be legally responsible for the Medicaid recipient.
I welcome the opportunity to help my clients stay at home—where they can receive one-on-one care in a familiar environment.
Complying with Medicaid’s strict financial requirements is complicated. It is important to speak to an attorney who has experience helping people with these requirements.
An experienced elder law attorney comes equipped with a knowledge of the nuances and intricacies of the application process, as well as evidence-based best practices gained from experience. Contact us to find out more about the financial requirements of the Medicaid program in general, or how you or a loved one can qualify for Medical Assistance Program/Medicaid for Home Care Services.
Vivian Garrastegui, Esq.
SCHNEIDER, GARRASTEGUI & FEDELE PLLC
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Suite 110 South
Melville, NY 11747
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