Medicaid Planning and Asset Protection
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Medicaid Planning and Asset Protection
Medicaid planning is the process of utilizing and protecting assets within state and federal guidelines in the event of a costly long-term.
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Texas Medicaid Eligibility Requirements For Seniors - STAR+PLUS

Texas Medicaid Eligibility Requirements For Seniors - STAR+PLUS | Medicaid Planning and Asset Protection | Scoop.it

"Learn more about Texas Medicaid Eligibility Requirements for Seniors. Even though elderly clients and those with disabilities are only 23 percent of Texas Medicaid population, they account for almost 60 percent of the expenditures. As the baby boom generation ages, the number of people needing long-term services and support will increase. In Texas, it's referred to as STAR+PLUS, a  Medicaid managed care program for people who have disabilities or are age 65 or older."

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Medicaid Guidelines When Moving Out of State

Medicaid Guidelines When Moving Out of State | Medicaid Planning and Asset Protection | Scoop.it

"Medicaid Guidelines When Moving Out of State. Those with Medicaid who want to move need to plan carefully to avoid losing coverage. When moving out of state, it is important to plan ahead."

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What is Medicaid Planning?

What is Medicaid Planning? | Medicaid Planning and Asset Protection | Scoop.it

"The term Medicaid planning involves either spending down or otherwise protecting a person's assets so that he or she has minimal assets and can meet the financial criteria for Medicaid qualification (which can be as low as $2,000 for a single person). Although based on federal law, Medicaid rules are different from state to state, and even county to country, and therefore it is import to consult with a legal expert in the field of Medicaid. Furthermore, the transfer of assets, purchase of financial products, or otherwise disposing of assets has tax implications for the transferor as well as the recipient, necessitating the advice of a tax advisor. Finally, a financial advisor is a necessity to help clients choose the correct financial products as part of an overall Medicaid planning strategy. In Texas the State Bar of Texas takes the position that only attorneys can do Medicaid Planning."

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Article: Transferring of Assets for Medicaid Look-Back Period

Article: Transferring of Assets for Medicaid Look-Back Period | Medicaid Planning and Asset Protection | Scoop.it

"When you're looking to qualify yourself or a loved one for Medicaid, a look-back period is applied. The look-back period is a balancing act between the government's way to provide Medicaid support and your desire to be able to leave property to heirs in a Will or Trust. You can't simply give property away and begin receiving Medicaid."

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