In an alarming number of instances, private Medicare Advantage plans are denying coverage for medical services that would be covered under original Medicare, according to a federal investigation. These denials are likely preventing or delaying medically necessary...
Yes. A revocable trust for both tax and Medicaid purposes is treated as if the property it holds is in the name of the grantor, which means the assets in the trust can put an applicant over the Medicaid asset limit. If you make the trust irrevocable, Medicaid will...
Sports fans with season tickets may want their families to enjoy the tickets after they are gone, but passing on these tickets may not be simple. Getting season tickets to your favorite sport is not always an easy task. Season tickets for some teams can cost a lot of...
The maximum amount that can be contributed each year to an ABLE account for a person with disabilities rose $1,000 to $16,000 on January 1, 2022. The figure, which is tied to the inflation-adjusted value of the IRS’s gift tax exclusion, had been stuck at $15,000...
For many Medicaid applicants, individual retirement accounts (IRAs) are one of their biggest assets. If you do not plan properly, IRAs can count as an available asset and affect Medicaid eligibility. Medicaid applicants can have only a small amount of assets in order...
It depends on the state. Some states don’t exempt IRAs even when they are in payout status, so the IRA will have to be spent down before qualifying for Medicaid benefits. But for those states that exempt IRAs, the question is whether the state’s estate recovery rules...
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