The 5-year Medicaid lookback period, often shrouded in myths and misconceptions, plays a pivotal role in determining your eligibility for Medicaid benefits. Established as part of the Deficit Reduction Act of 2005 and effective from February 8, 2006, this rule…
Medicaid preplanning is a legal and financial strategy designed to help individuals protect their assets while still qualifying for Medicaid benefits. Medicaid is a joint federal and state program that provides healthcare coverage for eligible low-income individuals, including coverage for…
Gifting your house to your children or your estate's intended beneficiaries can have several potential estate planning complications that you may not be aware of. For many people, the goal of making such a gift is to protect the asset…
Recognizing the importance of having a will in place, many people will head to Google to find a free resource for creating an online will. After answering a few questions, they may print off and sign a document, and feel…
To submit a successful application for federal Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI), you must review some of the major disqualifiers before proceeding. Eligible individuals can benefit from both programs though they have distinct differences. The…
Even if your insurance covers you, you might have to deal with major bills after a medical emergency. For example, suppose that you underwent emergency surgery for some reason. You scheduled it at a hospital that participated in your insurance network…
Due to aging baby boomers and the influx of international migrants, the number of seniors in the United States is rapidly growing. Despite the slight decline in the US average life expectancy in the past three years, many Americans, both…
In order to receive federal assistance through the Medicaid program for nursing home care, assisted living, in-home care, or adult foster care, an individual must meet the income and asset threshold requirements. Due to these rules, many candidates have to…
In the event a loved one might require Medicaid assistance in the foreseeable future, that person should not give a gift. For the person who gets pleasure from giving gifts, this can be difficult. In such a situation, gifts can…