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Long-term care and Medicaid spend down

Medicaid can be a useful benefit for seniors facing long-term care expenses. However, becoming eligible for it can be somewhat tricky. Long-term care facilities typically are very expensive. This may pose a significant problem to seniors whose income puts them above the Medicaid eligibility cap. Seniors whose income is above the Medicaid eligibility cut off may need to spend down their income to become eligible for Medicaid. Before making any serious decisions, seniors and their loved ones should keep in mind some important factors when coming up with a plan for Medicaid spend down.

Coming up with an appropriate Medicaid spend down plan takes time, and should not be held off until the last minute. Seniors that are in need of immediate long-term care may be stuck paying full price for a facility until their income matches Medicaid eligibility and their application is approved.

There are many things that can be considered for Medicaid spend down, and some things that cannot. Knowing the difference between what can and cannot be used as spend down can be difficult and may require the help of an attorney. Likewise, the Medicaid application process is complex, and depending on a seniors financial situation, their estate and any long-term coverage, may also require the help of an attorney.

Many seniors and their loved ones are concerned with the growing cost of long-term care. The out-of-pocket expense can be financially ruining for many, and may significantly impact an individual's estate and what they leave their loved ones. Individuals that wish to make an effective spend down plan that will not impact their estate may benefit by speaking to an attorney.

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