Medicaid is a government health insurance program that will pay for long-term care. Since Medicare does not pay for living assistance, this program is relied upon by many seniors who need help with their day-to-day needs. There is an asset limit of $2000 for an individual, but many things that you own do not count. You could potentially give countable assets to your family members before you apply for Medicaid.
Topics covered in this report include:
- Medicaid Asset Limit
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Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
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