MEDICAID 2020 UPDATE COMMENCING JANUARY 1ST, THERE ARE NEW MEDICAID AMOUNTS AFFECTING MEDICAID ELIGIBILITY. 2020 ASSET AND INCOME ALLOWANCES One Person Two Person Income Level *including $20 unearned income disregard $895 $1,304 Medicaid Resource Level $15,750 $23,100 2020 Medicaid Transfer Rates for Nursing Home Care Monthly Rates Nassau and Suffolk Counties $13,407 New York City… Read More »
Posts Categorized: Medicaid
Featured Post:
Featured Post:
The Trump Policy Analysis Group (TPAG) – Focusing on Older Americans and those with Special Needs
The Trump Policy Analysis Group (TPAG) [1] has convened to consider probable changes in law that will affect older Americans and those with special needs. Initial TPAG focus is on entitlements, public benefits, tax, special needs planning, and veterans’ benefits. We used a three-fold analysis: stated policy (declared Trump policies and those of the Republican Congressional… Read More »
I am Getting a Settlement…What do I need to know if I am on other benefits?
It is so very important to understand the benefits that you are receiving prior to actually collecting the funds that you may be entitled to from a settlement. Benefits The following is a sample of some of the benefits that you may be receiving: Supplemental Security Income (SSI) Social Security Disability Income (SSDI) Medicaid market… Read More »
What is long term care and how do I pay for it?
What if I need long term care? What if I need an aide to assist me in my home? What if I need care in a nursing home one day? Perhaps you have thought about this at length, maybe it was just a passing thought, or maybe you haven’t thought about it at all. The… Read More »
Do I Qualify For Medicaid?
As an Elder Law Attorney for nearly 20 years, I am often asked the question “How do I qualify for Medicaid?” While this seems like a very simple question, there is no simple answer. There are multiple types of Medicaid and each type has its eligibility nuances. Medicaid in the Market Place If you are… Read More »
NYS Medicaid Home Care Program Effective October 1, 2020
In Case You Missed It: COVID-19: How to Access Medicaid Home Care Hosted by Vincent J. Russo We at the Russo Law Group are very concerned about the impending changes to the NYS Medicaid Home Care Program Effective October 1, 2020. You still have time to transfer your assets (such as your residence) into a Medicaid… Read More »
Medicaid versus Medicare – FAQs
I always get Medicaid and Medicare confused – Can you tell us the difference? Distinguishing between Medicare and Medicaid can be confusing, but there are several key differences between the two. Medicare: Generally, Medicare is available for people age 65 or older, younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure… Read More »
What Documents Do I Need to File for Medicaid?
So, you have decided that you are in need of Medicaid services, but you are not sure where to begin. Aside from contacting an Elder Law Attorney to make sure that you meet the asset and income thresholds set by Medicaid, there are also a number of other items that are required to start the… Read More »
Medicaid and Your Stimulus Check
So, the stimulus checks went out. Now what? For those who received those funds, the hope was that you would be using the funds to help pay for things you need and in turn, that would help the economy. What happens if you are on Medicaid? What happens if you are in a nursing home… Read More »
IMPORTANT COVID-19 UPDATE: Changes to Medicaid Application Process during the COVID-19 Pandemic
A recently issued General Information System message (GIS) from the New York State Department of Health (which can be found here: https://www.health.ny.gov/health_care/medicaid/publications/docs/gis/20ma04.pdf) implements new and sweeping changes to the Medicaid application process. According to the GIS, these procedures will be in place “for the duration of the COVID-19 public health emergency”. Here is a brief… Read More »
NYS Community Medicaid will have a financial “look back” starting October 1, 2020
New York State Budget – Medicaid Update: Good News/Bad News On April 3, 2020, Governor Andrew Cuomo signed the approved 2020/2021 budget for New York State. As it often happens in matters of budgets and law-making, what comes out is often a mixture of good news and bad news. This year, the budget does not… Read More »
What should I consider before making a gift? – Medicaid eligibility
One of the most common questions we hear as estate planners is, “How much can I give in gifts without owing any taxes?” The quick answer is as follows: The annual exclusion from federal gift taxes in 2020 is $15,000 per donee, and there is no New York State gift tax. This means that if… Read More »
When Should a Medicaid Plan be Presented to the Guardianship Court?
A Medicaid plan can be presented to the guardianship court either before a guardian has been appointed or after, depending on when the need for a Medicaid plan arises. Medicaid Planning at the Onset of the Guardianship Proceeding If the need for a Medicaid plan is apparent at the onset of the guardianship proceeding, then… Read More »
How Can a Medicaid Plan be Approved in a Guardianship?
For many individuals who have capacity or who have executed a durable power of attorney with sufficient authorities granted to their agents, the ability to engage in a well-thought-out Medicaid plan is a given. Beginning with a Court Proceeding However, in situations where an individual has lost capacity and does not have a sufficient durable… Read More »
Should a Guardian Consider Medicaid Planning?
As Elder Law attorneys we advise our clients to execute durable powers of attorney in order to ensure that someone they trust is authorized to manage their property in the event that they no longer have the capacity to do so. In the absence of a durable power of attorney, or if the durable power… Read More »
In Case You Missed It: How to Qualify for Medicaid and Protect Your Assets
In Case You Missed It WATCH THIS SEMINAR TO LEARN: How to Access Quality Long Term Care How to Pay for Long Term Care How to Protect Your Assets and Income What Will Happen if You Don’t Have a Plan Presenter: Vincent J. Russo, Esq. Vincent J. Russo is the Founder and Managing Shareholder of… Read More »
How Can I Keep My Loved One At-Home? A Look at Pooled Income Trusts
As elder law attorneys, we frequently meet with family members frustrated by the cost of long-term health care. Many of our clients wish to remain at home but are misinformed as to their options. A Pooled Income Trust A Pooled Income Trust is a great vehicle to facilitate the goals of applying for Community (home… Read More »