Medicaid Myths

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Myth: Medicaid is only for poor people.

November 17, 2015

Fact: Actually, many middle class people are enrolled in Medicaid and consider it a valuable resource to spare their families from the financial burden of ...

Medicaid Myths

Myth: You have to spend down all your assets to qualify for Medicaid.

November 17, 2015

Fact: Not true. With proper planning, you can transfer your assets to family members so that they, not Medicaid, receive your inheritance. In addition, assets ...

Medicaid Myths

Myth: Medicaid can take my house from me.

November 17, 2015

Fact: No, you can keep your home as long as the Medicaid recipient, a spouse, or a disabled child live in it. In addition, Medicaid ...

Medicaid Myths

Myth: My monthly income is too high for Medicaid.

November 17, 2015

Fact: It is true that Medicaid has an income limit of $825 per month for individuals and $1,209 per month for couples. However, you can ...

Medicaid Myths

Myth: Once I get Medicaid, I’m set for life.

November 17, 2015

Fact: Actually, no. Medicaid recipients have to reapply annually. I help many clients, and several referral partners, with the Medicaid reapplication process, which can be ...

Medicaid Myths

Myth: I’ll have to change doctors if I’m on Medicaid.

November 17, 2015

Fact: No, you do not have to change doctors. Your Medicare or other health insurance remains primary at all times.

Medicaid Myths

Myth: Should I liquidate my retirement account to qualify for Medicaid?

November 17, 2015

Fact: This is not necessary at all as retirement assets are exempt from Medicaid as long as you are taking the minimum required distribution.

Medicaid Myths

Myth: Don’t I automatically receive Medicaid at age 65?

October 21, 2015

Fact: Sounds like you’re confusing Medicare and Medicaid. Medicare is a benefit you get when you turn 65 which covers basic health care. Medicaid is ...

Medicaid Myths

Myth: I have a pension. Does this mean I can’t qualify for Medicaid?

October 21, 2015

Fact: No, you can qualify for Medicaid home services, even if you have a pension. Income in excess of the Medicaid limits can be protected ...

Medicaid Myths

Myth: So what exactly IS a Pooled Income Trust?

October 21, 2015

Fact: This is a trust that allows you to shelter any income that exceeds Medicaid’s monthly limitations. It is commonly used by Medicaid recipients to ...

Medicaid Myths

Myth: Medicaid is only for poor people.

Myth: You have to spend down all your assets to qualify for Medicaid.

Myth: Medicaid can take my house from me.

Myth: My monthly income is too high for Medicaid.

Myth: Once I get Medicaid, I’m set for life.

Myth: I’ll have to change doctors if I’m on Medicaid.

Myth: Should I liquidate my retirement account to qualify for Medicaid?

Myth: Don’t I automatically receive Medicaid at age 65?

Myth: I have a pension. Does this mean I can’t qualify for Medicaid?

Myth: So what exactly IS a Pooled Income Trust?

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