We get this question all the time. People are told "your income is too high to qualify for Medicaid". However, their income is WAY less than what it takes to pay for the nursing home. Some States have what is called an "Income Cap" which means there is a maximum amount that you can make. However, that limit is much under the amount that facilities cost.
Therefore, you have to jump through some hoops to qualify. That "hoop" is commonly called a Miller Trust. Today, Todd and Sara talk about the Miller Trust and how you can create it and still qualify for Medicaid even if you have a higher income than allowed.
*Note: Not every State has an income cap so don't be surprised if you have never heard of this.
Information to help you answer all of your questions about aging.
We get this question all the time. People are told "your income is too high to qualify for Medicaid". However, their income is WAY less than what it takes to pay for the nursing home. Some States have what is called an "Income Cap" which means there is a maximum amount that you can make. However, that limit is much under the amount that facilities cost.
Therefore, you have to jump through some hoops to qualify. That "hoop" is commonly called a Miller Trust. Today, Todd and Sara talk about the Miller Trust and how you can create it and still qualify for Medicaid even if you have a higher income than allowed.
*Note: Not every State has an income cap so don't be surprised if you have never heard of this.
Information to help you answer all of your questions about aging.