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Asset Protection Implementing a gifting program. Purchasing a short-term, Medicaid compliant single premium immediate annuity. Transferring assets to a disabled child. Placing assets in a special needs trust. Personal care contracts. Promissory notes. Retitling assets. Disinheriting an ill spouse.
Look-Back Period: Medicaid also has a look-back period of five years, which means that any gifts or transfers of assets made within the five years prior to the individuals Medicaid application will be scrutinized.
For example, in May, Julie has $210 in doctor visits and $40 in total prescription drug copayments, for a total of $250 in medical expenses. She meets her spenddown amount, so Medicaid pays the additional $50 of her medical expenses.
Eligibility Guidelines: Individuals must be at least 16 years old. Individuals must not be enrolled in another home and community-based waiver. Individuals must qualify for Medicaid in the community. Individuals must need the level of care required to qualify for nursing facility services.
In general, claims against the estate of a decedent must be filed within the earlier of (1) 2 months from when the personal representative mails or otherwise delivers notice to a known creditor or (2) 6-months from the date of death (regardless of notice or even opening the estate). Md.

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In MD, IRAs are also counted. There are also many assets that are considered exempt (non-countable). Exemptions include personal belongings, household furnishings, an automobile, burial spaces, and generally ones primary home. All assets of a married couple are considered jointly owned.
The amount is the difference between the applicants countable income and monthly Medicaid income limit. The spenddown program is an option available to Ohioians age 65 and older and people with disabilities who meet all eligibility requirements for Medicaid except their family income is too high.
Medicaid eligibility in Florida comes with strict income limits and asset limits. If your total asset value closely exceeds that limit, you can consider spending down to meet the limit.

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