The Medicaid application, itself, has several sections. The first section involves patient information, general information, signatures, and a listing of any family members who might still be living in the patient’s home. There are many “Yes” and “No” questions, which can be answered easily.
Medicaid Application Process Do’s And Don’ts
- Don’t transfer any assets without considering the transfer rules and penalties.
- Don’t confuse the look-back period and the transfer penalty period.
- Don’t forget that BOTH spouses may have to enter the nursing home
- Do plan that the Community Spouse might pre-decease the Institutionalized spouse.
- Don’t make transfers without the proper authority or documentation.
- Don’t rely on outdated or poorly drafted Durable Power of Attorney documents, or Health Care Surrogate and Living Will.
- Do disclose ALL known income, assets, gifts, and inform Medicaid of any new or additional income, assets or gifts in the future.
- Do include the GROSS INCOME of an applicant when applying.
- Do have a Qualified Income Trust established by a competent attorney or Medicaid professional.
- Do ASK if the facility you have chosen accepts Medicaid payments!!
- Do NOT believe that Medicare pays for long-term nursing home care.
- Do NOT make transfers into and out of the WRONG type(s) of trust.
- Do NOT think that the $11,000 gift tax exclusion is applicable to Medicaid Eligibility planning. It is NOT! Do not confuse IRS rules with Medicaid rules!
Medicaid Application Document Check List
