What is the Community Spouse Resource Allowance? The Community Spouse Resource Allowance, or CSRA, is portion of assets granted to the Community Spouse when the Institutionalized Spouse/Medicaid applicant enters a period of institutionalization in a nursing home. The CSRA is a vitally important allowance under the Spousal Impoverishment rules established by the federal government, used […]
Promissory Notes and Medicaid Can promissory notes be employed to create asset protection and early Medicaid eligibility? Yes. A strategy for protecting assets and qualifying for Medicaid that has gained attention in recent years is the use of promissory notes as part of a family’s spend down. This article will provide an explanation of promissory […]
A reverse mortgage loan is designed for adults age 62 or older to convert a portion of their home equity into cash, with the real estate serving as security for the loan; reverse mortgages are only available to Americans in this age range. This type of loan allows individuals and couples to remain in their […]
Medicaid will cover custodial care costs as long as care is provided in a specific setting approved by Medicaid. provided in approved care facilities, such as a nursing home setting or other settings (see below). Medicare does not provide for long-term custodial care. The three principal settings in which individuals receive custodial care are: in […]
A common question family members and loved ones often ask us is: What about joint bank accounts? How does Medicaid handle these assets? How does this affect Medicaid eligibility? Joint bank accounts are very common in the context of senior assets. Senior individuals will often place a joint owner on a checking account or other […]
You may have heard of many different types of Medicaid coverage. And, in fact, thankfully there are a wide variety of Medicaid programs to help a wide variety of people. This article will give you a broad idea of the many types of Medicaid programs and covered services that are available to low income and […]
