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Questions & Answers (cont.)
5. Will The
Care My Loved One Or I Receive In The Nursing Home Be Substandard?
No, it is illegal to discriminate on the basis of how one pays for his or
her care in the nursing home. Those qualified for Medicaid receive the
same care as private pay residents.
6. What If I Need Care, But Have Too Much
Income?
In Florida, if the ill person’s monthly income exceeds $2,022, eligibility
will be denied without the use of a Qualified Income Trust (QIT). This
specialized trust holds the excess income and allows for the ill person to
obtain the needed Medicaid benefits.
7. What If My Spouse Needs Care, But I Have
Only a Small Amount Of Income To Live On?
The law clearly allows for income to be diverted to the spouse still at
home so that his/her standard of living will be maintained. There is a
minimum and maximum income level set which may be diverted back to the
at-home spouse.
8. Can I Give Away Assets?
Giving assets to your spouse is perfectly legal and no disqualifications
or penalties apply. However, giving assets away to a non-spouse within a
lookback period creates disqualification which may last several months or
years; this includes the $13,000 (as of 2009) per year allowed under gift
tax law.
Unlike the old law which viewed gifts of smaller amounts of little
consequence, the new Medicaid law enacted in Florida on November 1, 2007
harshly penalizes gifts of any amount or kind. As a part of our
comprehensive Medicaid spend-down plan, we will discuss the impact of any
gifts you (or your spouse) have made within the lookback period (3 years
or 5 years) to your children, your church, or your favorite charity. We
will tell you whether you are currently disqualified from receiving
Medicaid; and if so, how to cure your disqualification, thereby opening
the door to immediate Medicaid eligibility.
9. Can I Protect My Assets With a "Medicaid
Friendly Annuity?”
The new Medicaid law, enacted in Florida on November 1, 2007, assesses a
lengthy disqualification period for “balloon annuities” heavily used prior
to the new law. Under the new law, annuities are allowed under limited
circumstances and must name the State of Florida as the primary
beneficiary in most cases.
For more information on
Medicaid in Florida, you may visit
FloridaMedicaid.com.
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