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MassHealth Eligibility and Protecting Your Assets
WEBMassHealth has an income eligibility threshold. MassHealth income standards for a family of two is $522 monthly, $6,264 annually. More information is located at mass.gov. (figures from February 1, 2022) MassHealth also has a countable assets eligibility threshold. Whether single or married, you can have only $2,000 in countable …
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What are MassHealth, Medicaid, and Medicare
WEBMassHealth, Medicaid, and Medicare are all government programs for health care. But how do they differ and what do they cover? Medicare Medicare is a federal health insurance program for people 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis …
What Assets and Income Count Toward MassHealth Eligibility
WEBThe basic rule for MassHealth long-term care eligibility is that if you apply, whether single or married, you can have only $2,000 in countable assets in your name. If your spouse plans to continue living in the community, your spouse is allowed to keep approximately $137,400 in their name. (figures updated 2022) If you apply to …
MassHealth Income Limits and Deductibles
WEBIn 2011, the monthly income limits for seniors seeking MassHealth benefits is $522 for an individual, $650 for a couple, and $72.80 for residents of long-term care facilities. However, seniors age 65 or older and individuals needing long-term care, who would qualify for MassHealth except that their income or assets are too high, can …
The MassHealth (Medicaid) Look-Back Period and Transfers
WEBUnder the previous rules, people applying for MassHealth benefits needed to disclose transfers of liquid assets or real estate made within a “look-back period” prior to application that went back 60 months for transfers to irrevocable trusts and 36 months for transfers to individuals. Under the DRA, the MassHealth look-back period for all
6 Easy Steps for MassHealth/Medicaid Asset Protection
WEBMake a list of everything you own. Pretty much everything you own is a Countable Asset except for your home (in some cases), personal household property and your car (up to a certain value). Having more than $2,000 worth of Countable Assets will prevent you from becoming eligible for MassHealth, which means you will have to fork …
Spending Down Assets for MassHealth
WEBIt’s important to get guidance from a Massachusetts elder law attorney to make sure you’re spending down according to MassHealth rules. To spend down appropriately, you must spend assets on your needs, including medical care, in-home supports like personal care and cleaning, home repairs, car repairs, eyeglasses, hearing …
Irrevocable Trusts and MassHealth
WEBAfter a thorough discussion and understanding of your financial assets, family dynamics, and estate planning objectives, we’ll develop a sound and comprehensive plan tailored to your needs. Contact us today at [email protected] or call us at 617.299.6976. The Heritage Law Center, LLC gives an overview of what Massachusetts
Know the Difference between Medicare, Medicaid and MassHealth
WEBMedicare is the federal health insurance provided to seniors over age 65. Medicaid, on the other hand, is a joint federal/state assistance program designed to pay for health care for individuals that meet certain income and asset guidelines. MassHealth, meanwhile, is just the name we use for Medicaid in Massachusetts—the programs are …
MassHealth Attorney Heritage Law Center, LLC
WEBMassHealth is a federal and state program that pays for health care for certain low- and medium-income people living in Massachusetts. The Heritage Law Center specifically deals with MassHealth Standard for seniors (age 65 or older) who need long-term care and have limited income and resources. Without MassHealth, all but the very wealthiest
6 Tips About Gifting and MassHealth Eligibility for Nursing Homes
WEB2. Your MassHealth application must also include five years’ worth of copies of all cancelled checks for $1,000 or greater, along with an explanation for each of those expenses. You should also keep credit card statements in case you need them to provide proof of what you bought for $1,000 or more. 3.
Permissible Transfers of Real Estate under MassHealth (Medicaid)
WEBA MassHealth applicant can freely transfer their home to one of the following persons: 1. their spouse; 2. their child who is under age 21, or who is blind or permanently and totally disabled; 3. their sibling who has a legal interest in the home and who was living in the home for at least one year immediately before the date of the applicant
A Life Estate Deed or an Irrevocable Trust for MassHealth Planning
WEBOn the date the irrevocable trust is signed, the five-year look-back period for MassHealth eligibility will begin. Pros. Once the house has been in an irrevocable trust for five years, it’s considered a non-countable asset for purposes of qualifying for MassHealth benefits. If you apply for MassHealth after the five-year look-back-period
Attorney Help with MassHealth Preparing Your Assets
WEBAt The Heritage Law Center, we know how complex and confusing MassHealth and estate planning can be. Fortunately, our lawyer knows the ins and outs of Massachusetts laws and MassHealth regulations and can use that experience to seek out the coverage you need. Connect with us today by calling 617-299-6976 or completing the online form below to
What Is a Medicaid Trust in Massachusetts
WEBMedicaid, called MassHealth in Massachusetts, is a federal and state program that pays for health care for certain low- and medium-income people. MassHealth Standard pays for long-term care services for people aged 65 and older. Each state sets strict limits on Medicaid eligibility based on your financial assets and income.
Difference Between a Health Care Proxy and HIPAA Authorization
WEBA health care proxy allows you to choose another person, known as an agent or proxy, to legally make health care decisions for you if you can’t do so yourself. It doesn’t grant any powers to the health care agent until you’re actually unable to make or communicate health care decisions. Without a health care proxy in place, your loved
MassHealth Planning and Prepaid Funeral Accounts
WEBIf an individual applies to MassHealth for help paying the huge costs associated with nursing home care, MassHealth asset limits allow the individual to have only $2000 in his or her name while their spouse can have only about $109,000. However, certain “non-countable assets” are also allowed including an irrevocable prepaid funeral
Massachusetts Life Estates
WEB3. Creating a life estate can reduce your estate to help achieve MassHealth/ Medicaid eligibility and protects your home from MassHealth/ Medicaid liens and estate recovery. Example: Jane Doe, a 75-year-old widow, owns a home in Essex County, Massachusetts with a fair market value of $250,000.00. Her home is her most valuable …
A Health Care Proxy vs. an Advance Directive
WEBA Health Care Proxy vs. an Advance Directive. POSTED ON: December 6, 2017. A health care proxy, also known as a “health care surrogate” or “medical power of attorney,” allows you to designate another person, known as an agent or proxy, to legally make health care decisions for you if you cannot do so yourself. It does not grant any
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