Second Half of Life Podcast

Qualifying for Medicaid to Pay for Long Term Care Costs

October 13, 2020 Steinbacher, Goodall & Yurchak Season 1 Episode 37
Second Half of Life Podcast
Qualifying for Medicaid to Pay for Long Term Care Costs
Chapters
Second Half of Life Podcast
Qualifying for Medicaid to Pay for Long Term Care Costs
Oct 13, 2020 Season 1 Episode 37
Steinbacher, Goodall & Yurchak

In this episode, a clip from our Wine & Wills virtual event on Sept. 1, Long-Term Planner Kristin Daugherty discusses using Medicaid to pay for long-term care costs. In addition to the better-known version of Medicaid (also called medical assistance), which is used by people of a certain income level for general healthcare, Medicaid is and can also be used by people of varying asset levels to pay for long-term care costs. So, how can you qualify for Medicaid to pay for long-term care if you have too many assets? The short answer is to give some of these assets away as gifts, often to a trust, but HOW one does this is more important that the act of gifting itself. Kristin explains some of this in very general terms.

To learn more about Medicaid qualification for long-term care costs, view this portion of a recent virtual seminar in which Kristin explains more about Medicaid. https://youtu.be/9nB3sEz89Po?t=2105

Show Notes

In this episode, a clip from our Wine & Wills virtual event on Sept. 1, Long-Term Planner Kristin Daugherty discusses using Medicaid to pay for long-term care costs. In addition to the better-known version of Medicaid (also called medical assistance), which is used by people of a certain income level for general healthcare, Medicaid is and can also be used by people of varying asset levels to pay for long-term care costs. So, how can you qualify for Medicaid to pay for long-term care if you have too many assets? The short answer is to give some of these assets away as gifts, often to a trust, but HOW one does this is more important that the act of gifting itself. Kristin explains some of this in very general terms.

To learn more about Medicaid qualification for long-term care costs, view this portion of a recent virtual seminar in which Kristin explains more about Medicaid. https://youtu.be/9nB3sEz89Po?t=2105