Asset Spend-Down for Medicaid Qualification Navigating the - PowerPoint PPT Presentation

Presenting a live 90-minute webinar with interactive Q&A Asset Spend-Down for Medicaid Qualification Navigating the Complexities of Classifying Assets, Individuals vs. Married Couples, and Appeals Process THURSDAY, MARCH 10, 2016 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific 1pm Eastern | 12pm Central | 11am Mountain | 10am Pacific Today’s faculty features: Michael J. Keenan, Attorney, Keenan Law , South Glastonbury, Conn. Kyla G. Kelim, Esq., Aging in Alabama , Fairhope, Ala. The audio portion of the conference may be accessed via the telephone or by using your computer's speakers. Please refer to the instructions emailed to registrants for additional information. If you have any questions, please contact Customer Service at 1-800-926-7926 ext. 10 .

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South Glastonbury, CT www.keenan-law.com Qualifying for Medicaid Michael J. Keenan, Esq Michael J. Keenan, Esq. michael@keenan michael@keenan- -law.com law.com Presentation for Presentation for Strafford Publications Strafford Publications March 10, 2016 March 10, 2016

Warning   Unlike Medicare & Social Security, Medicaid is a federal program Unlike Medicare & Social Security, Medicaid is a federal program Unlike Medicare & Social Security, Medicaid is a federal program Unlike Medicare & Social Security, Medicaid is a federal program run by departments of state governments; run by departments of state governments; run by departments of state governments; run by departments of state governments;   States can differ widely in how they manage the Medicaid States can differ widely in how they manage the Medicaid States can differ widely in how they manage the Medicaid States can differ widely in how they manage the Medicaid program; program; program; program;   The figures used (income limits, asset limits, penalty calculations, The figures used (income limits, asset limits, penalty calculations, The figures used (income limits, asset limits, penalty calculations, The figures used (income limits, asset limits, penalty calculations, etc.) vary state etc.) vary state-to etc.) vary state-to etc.) vary state to-state; to-state; state; state;   Be mindful of this unique federal Be mindful of this unique federal-state dynamic during the Be mindful of this unique federal Be mindful of this unique federal-state dynamic during the state dynamic during the state dynamic during the presentation. presentation. presentation. presentation. www.keenan- www.keenan -law.com law.com 6 6

Medicaid Introduction Medicaid Introduction Established in 1965, Title XIX of the SSI Program; Established in 1965, Title XIX of the SSI Program; Established in 1965, Title XIX of the SSI Program; Established in 1965, Title XIX of the SSI Program;   Federal government sets minimum coverage standards, states Federal government sets minimum coverage standards, states Federal government sets minimum coverage standards, states Federal government sets minimum coverage standards, states   may expand their programs beyond the minimum requirements; may expand their programs beyond the minimum requirements; may expand their programs beyond the minimum requirements; may expand their programs beyond the minimum requirements; Available to anyone who is disabled and has exhausted their Available to anyone who is disabled and has exhausted their Available to anyone who is disabled and has exhausted their Available to anyone who is disabled and has exhausted their   financial resources; financial resources; financial resources; financial resources; SSI beneficiaries are automatically eligible for Medicaid in most SSI beneficiaries are automatically eligible for Medicaid in most SSI beneficiaries are automatically eligible for Medicaid in most SSI beneficiaries are automatically eligible for Medicaid in most   states; states; states; states; Nursing home care and community care. Nursing home care and community care. Nursing home care and community care. Nursing home care and community care.   www.keenan- www.keenan -law.com law.com 7 7

Countable Assets Countable Assets State sets a limit on “countable” resources – assets that can be State sets a limit on “countable” resources State sets a limit on “countable” resources – assets that can be State sets a limit on “countable” resources assets that can be assets that can be   converted to cash and used to pay for care; converted to cash and used to pay for care; converted to cash and used to pay for care; converted to cash and used to pay for care; Joint accounts are generally considered 100% owned by the Joint accounts are generally considered 100% owned by the Joint accounts are generally considered 100% owned by the Joint accounts are generally considered 100% owned by the   applicant, regardless of how many joint owners there are; applicant, regardless of how many joint owners there are; applicant, regardless of how many joint owners there are; applicant, regardless of how many joint owners there are; Real estate solely owned by an applicant is considered countable Real estate solely owned by an applicant is considered countable Real estate solely owned by an applicant is considered countable Real estate solely owned by an applicant is considered countable   even though it is illiquid; even though it is illiquid; even though it is illiquid; even though it is illiquid; Trusts for which the applicant is a beneficiary is generally Trusts for which the applicant is a beneficiary is generally Trusts for which the applicant is a beneficiary is generally Trusts for which the applicant is a beneficiary is generally   countable; countable; countable; countable; “Availability” is a key concept in Medicaid. “Availability” is a key concept in Medicaid. “Availability” is a key concept in Medicaid. “Availability” is a key concept in Medicaid.   www.keenan- www.keenan -law.com law.com 8 8