It’s Never Too Late:
Medicaid planning can begin anytime, even if a family member is already in a skilled care facility.
You Can Keep Your Home:
If you are married, your home is exempt from Medicaid’s calculation of what your contribution should be. If you are not married, your home may still be an exempt asset if you follow certain procedures.
Don’t Give Away the Store:
Since major changes in the law in 2006, giving away your assets may create unforeseen problems in qualifying.
Mind the “Safe Harbor” Provisions:
Be aware of and take advantage of the safe harbors that Congress has provided in the laws and rules regarding Medicaid planning.
Carefully Choose When You Apply for Medicaid:
Applying too early can mean a longer wait for Medicaid, while applying too late can mean having to pay for months of care you may not have had to.
Do not apply for Medicaid without a plan.
