Friday, January 15, 2010
WHAT ARE THE MEDICAID IMPLICATIONS OF A SECOND MARRIAGE?
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Seniors who get remarried are often concerned about what will happen to their assets if their new spouse enters the nursing home in the future. They are concerned that their hard-earned assets they saved could be lost. They also want to make sure that when they die their assets will go to their children. Although the prenuptial agreement will protect the senior’s assets from claims of his surviving spouse when he dies, the prenuptial agreement does not protect his assets from his spouse’s nursing home expenses. Seniors who have entered into second marriages are often surprised to learn that the prenuptial agreement that specified that their spouse had no claim to their assets does not prevent Medicaid from counting the assets of the spouse at home in determining Medicaid eligibility.
Medicaid is the governmental program that pays nursing home costs when a ... >> full
Friday, January 15, 2010
FEDERAL NURSING HOME SITE NOW NOTES TROUBLED FACILITIES
The federal Centers for Medicare & Medicaid Services (CMS) has announced that its Web site comparing nursing homes will now identify facilities that are on its list of those that have a history of poor performance.
From now on, the agency’s Nursing Home Compare site will point out nursing homes that it calls Special Focus Facilities — those that have repeated violations of state and federal health and safety rules and that rank in the worst 5 percent to 10 percent for inspection results in a given state. CMS released the names of the 131 SFF facilities earlier this year, but this is the first time they will be included on the Nursing Home Compare site.
The troubled facilities are identified by a small "2″ in superscript next to a facility’s name.
A Wall Street Journal article on the CMS decision notes that "consumer groups and nursing home officials warn, ...
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Friday, September 25, 2009
A MEDICAID STORY THAT STARTS OUT BAD BUT TURNS OUT JUST FINE
Recently, we posted an article about a Dad who gifted a large sum to his children and within 6 months needed long term care. Because the money had been spent and could not be returned I had to explain to the daughter that Dad would not be eligible for Medicaid for 4 and ½ years. A complete disaster. But this week let’s take a look at a success story, long before long term care and Medicaid were needed.
Mary contacted our office concerning her mom who was living in an assisted living facility. Mom had transferred her assets to her 3 daughters. They had begun to spend some of the money on Mom’s care but had also opened and closed accounts, moving, combining and commingling assets. Over time it would have been very difficult to follow the paper trail ... >> full
Friday, September 25, 2009
MEDICAID MESS
Every so often, I come across a situation that illustrates so clearly the dangers of going it alone or getting bad advice when dealing with the common issues and dilemmas that seniors and their families so frequently face. I received a call last week from a son living out of state. Mom and Dad, living in New Jersey, were no longer able to live alone. They transferred their home to their son, and moved in with him. That’s when the plan fell apart.
Dad’s health deteriorated more rapidly than anticipated and needed nursing home care. The couple then spent down their remaining assets and applied for nursing home care for Dad. Meanwhile, Son placed the New Jersey home up for sale.
Much to their surprise, the family was informed that the state Medicaid office denied Dad’s application. Why? Because the transfer of the home to Son caused a Medicaid ineligibility ...
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Tuesday, July 28, 2009
COST OF LONG-TERM CARE CONTINUES TO RISE, 2008 SURVEY FINDS
Costs for nursing homes, assisted living facilities and some in-home care services have risen for the fifth consecutive year and might continue to rise unless more long-term care workers can be found, according to a new survey by Genworth Financial.
A private room in a nursing home now costs $76,460 a year or $209 daily, a 17 percent increase since 2004, Genworth’s 2008 Cost of Care survey found. A semiprivate room in a nursing home is now $68,408.
The cost of assisted living facilities is shooting up even faster, having risen 25 percent since 2004 to a current average of $36,090 a year for a one-bedroom unit. Assisted living costs ranged from a high of $4,921 a month in New Jersey to a low of $1,981 a month in Arkansas.
While the cost of in-home care by workers who are not certified by Medicare remained about the same, ... >> full
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