Medicaid Problems
By now you have probably
realized that planning for Medicaid ICP benefits is a complex
subject. By planning ahead, huge amounts of assets can be
protected by taking full advantage of the provisions in the
Florida DCF Manual. Two of the most
common problems we encounter are as follows:
-
Failing to designate agents
in Durable Power of Attorney or Health Care Surrogate
Designations before incapacity strikes. This can lead to
the necessity of
guardianship proceedings to complete Medicaid
qualification planning and costs thousands of dollars.
-
Gifting property to loved
ones can result in a disqualification period of one month for
every $5,000 given. For example, if $10,000 was given
away, the applicant will be disqualified from Medicaid ICP for
two months following application. The applicant will
need to pay for nursing home care at the private rate for
those months, unless the funds are given back by the
recipient.
Don't hesitate to call for a
free consultation!
