Re:US economy returned to growth last quarter, expanding 2.6%
by hotdogrelish on Thursday October 27, 2022 @02:18PM
(#33361698)
Interestingly in some states it's even higher than $636k!
However, I think you're on the nose with the long term care facilities. Medicaid will only pay 100% of any nursing home care (high end or low end) if your countable assets are $2500 or less. Additionally, Medicaid considers your income going back 5 years in order to determine eligibility, so selling (or putting into a trust) sooner rather than later can make sense for a lot of people.
https://www.webmd.com/health-insurance/features/when-how-muc...
However, I think you're on the nose with the long term care facilities. Medicaid will only pay 100% of any nursing home care (high end or low end) if your countable assets are $2500 or less. Additionally, Medicaid considers your income going back 5 years in order to determine eligibility, so selling (or putting into a trust) sooner rather than later can make sense for a lot of people. https://www.webmd.com/health-insurance/features/when-how-muc...