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What is a Miller Trust?

02/26/2015 1:04 PM

In an income cap state an applicant may have income too high to qualify for Medicaid, yet too low to cover the private pay rates of nursing home care.  Over the next 3-minute video we’ll explore this scenario and how Miller Trusts fit into it. Click here to view the printer-friendly version of this video.... Read more »

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Can I Change My Medicaid Annuity Beneficiary After My Spouse Dies?

02/17/2015 7:07 PM

In 95% of Medicaid planning cases for married couples the annuity purchase is made by the community spouse.  This is in light of the community spouse’s financial needs to maintain his/her standard of living in the community; the annuity income allows him/her to do so. The community spouse is moderately healthy and continues to live...

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The New VA Rule Proposal: What’s Next?

01/30/2015 2:47 PM

On January 23, 2015, the Federal Register released Document No. 2015-00297.  This document has caused quite a stir in the elder care industry, and has climbed to the top of the “hot-button issues” list.  If you’re not yet familiar with the document, you’re likely wondering what could possibly cause such widespread interest.  It’s an unexpected...

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Minnesota Concedes that State Law is Inconsistent with Eighth Circuit Decision

01/29/2015 10:15 AM

In a typical case involving a married couple, one spouse will be in the nursing home and the other will be at home watching the couple’s life savings disappear before his/her eyes.  A well-known planning technique in such an instance has been a Medicaid Compliant Annuity.  In that a community spouse’s income is not deemed...

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Can a Medicaid Divestment Penalty Period Start and Stop?

01/21/2015 4:24 PM

The short answer is no. [CMS transmittal dated July 27, 2006].  However, state interpretations may vary.  Watch this three-minute video, where we explore what happens once a penalty period commences and the applicant ceases to be eligible for other reasons. For a printer-friendly version click here: http://bit.ly/1xYcwNE NEXT EPISODE: WHAT IS A MILLER TRUST?

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Medicaid Annuity Breakthrough in South Dakota Case

01/21/2015 10:57 AM

In light of how much time has passed since the Deficit Reduction Act of 2005 (“DRA”), using annuities in Medicaid planning is not something most would think of as a new, ground-breaking, planning technique.  However, there are still several states where using annuities in planning simply is not popular.  While some of those states have...

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2015 Veterans Pension Benefit Rates: Official Update Released

01/13/2015 6:23 PM

After much anticipation and speculation, we’re pleased to announce that the Department of Veterans Affairs has finally released the official 2015 pension rates, to-wit: Single Veteran Basic Improved Pension $1,072 Housebound $1,310 Aid & Attendance $1,788 Standard 5% VA UME Deduction $53.60 Married Veteran Basic Improved Pension $1,404 Housebound $1,642 Aid & Attendance $2,120 Standard...

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5 Things You Need to Know About Medicaid Annuities

01/06/2015 4:56 PM

The Deficit Reduction Act of 2005 (“DRA”) has been around for nearly nine years. The planning techniques that were created as a result of the legislation have been in full swing for nearly the same time-frame.  The use of Medicaid annuities in planning is not new.  We all know the DRA requirements pertaining to annuities....

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Achieving a Better Life Experience: The ABLE Act of 2014

12/23/2014 5:39 PM

President Barack Obama signed the Achieving a Better Life Experience Act (“the ABLE Act”) into law on December 19, 2014.  The ABLE Act allows for people with disabilities to open tax-free savings accounts that are structured much like the 529 Education Savings Plans you see today. The passing of the ABLE Act is quite significant...

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Avery v. Union County Division of Social Services: When Are Retirement Funds Exempt for Community Spouses?

12/18/2014 11:31 AM

Friend Avery entered a nursing home in July 1997 while his wife Rose continued to reside in the community.  The Averys applied for New Jersey Medicaid benefits shortly thereafter.  Mrs. Avery was still working and had a 401(k) and a profit sharing plan with a combined balance of nearly $100,000. The Union County Division of...

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