What is Medicaid, and how do I qualify?
There are fallacies about Medicaid including the hows and the whys one qualifies for Medicaid. In addition, many people fail to realize that planning for long-term nursing home coverage may allow them to keep their savings or second home. This information is designed to dispel some of the myths about Medicaid and replace them with the facts. MYTH: I’ll never need Medicaid because my nursing home bills will be nominal, or I’ll never need a nursing home. FACT: The probability of not needing a nursing home these days is relatively small. In addition, the level of care required by many individuals is too great for a spouse or an adult child to provide at home. MYTH: Medicaid will take everything you own when you get into a nursing home. FACT: Medicaid considers only certain items to be countable in determining your eligibility for benefits. Moreover, if you are married, Medicaid will allow the healthy spouse to keep certain assets. MYTH: I’ll just put everything in my children’s name and t
