Being in long term care myself, I am blessed with tons of resources to help explain the difficult world of Medicaid. Today my facility Conroe Health Care Center hosted a community event with a presentation by Elder Law Attorney John Dantche. The presentation was over the Ins and Outs of Medicaid and protecting your assets; this is strictly in reference to long term care. Here is some great information he gave us that I wanted to share with you!
Medicaid Eligibility for the Nursing Facility (aka long term care or skilled nursing facility)
What constitutes income:
Basically this is anything you receive benefits on or payments such as: social security, pensions, annuities, wages, dividends, and retirement benefits.
Maximum Amount of resources:
What constitutes a resource:
Anything that can be exchanged for cash value such as: bank accounts, property, life insurance, stocks and bonds, etc.
What can be excluded for eligibility:
Life insurance with face value of $1500 or less per person
Burial spaces for the individual, spouse, and close relatives
Protected resources amount for a spouse in the community
$22, 728 Minimum- $113,640 Maximum (does not include resources under the excluded list)
Some other information to know is that they must be a resident of Texas, be in a medicaid contracted long term care facility for a minimum of 30 consecutive days AND meet Medical necessity which is determined through the assessment process.
There are so many individual situations, so if you have any questions please feel free to ask. If I do not know the answer I will find out for you! I hope this information clarifies about what SOME of the qualifications are for Medicaid application and approval.
Conroe Health Care Center