Medicaide is a common mis-spelling of Medicaide
Medicaide is health insurance available to certain people and families who have limited income and resources.
Medicaide Secrets Book - MORE INFO......
How to Keep Nursing Home Costs from Wiping Out Your Life Savings and Your Family's Assets
Medicaide will pay the entire cost of a long-term stay in a nursing home
-- if you know how to qualify!
Don't lose your house to the nursing home!
Click on the link below to get the whole story:
protect your assets while qualifying for Medicaide!
 K. Gabriel Heiser, J.D., is a Medicaide attorney specializing in elder care and estate planning. For the last 25 years, He helped hundreds of people pay for nursing home care -- and kept them from going broke in the process. He advised them on how to protect their homes and other family assets from devastating nursing home expenses so that they can have something to pass on to their children, relatives or charitable institutions.
He discovered a great many things about the Medicaide system that hardly anyone knows. For instance, did you know that there's one secret technique that can double the amount of assets your family can protect -- yet very few attorneys are even aware of how it works?
"A Must-Read for Anyone Who Has Elderly Parents
in Need of Nursing Home Care" MORE INFO......
The rules for counting your income and resources (like bank accounts or other items that can be sold for cash) usually depend on which state you live in.
Eligibility may also depend on how old you are and whether you are pregnant, whether you are blind or have other disabilities, and whether you are a U.S. citizen or a lawfully admitted immigrant. If a woman’s labor and delivery of her child is covered by Medicaid, her baby may be covered for up to 1 year without needing to apply. Even if you aren’t sure whether you qualify, if your income is limited, and if you or someone in your family needs health care, you should apply for Medicaid and have a qualified caseworker in your state look at your situation.
People with Medicaid may also get coverage for services such as nursing home care. Depending on your state's rules, you may also be asked to pay a small part of the cost (copayment) for some medical services. If you qualify for both Medicare and Medicaid, most of your health care costs will be covered.
Review
"Medicaide Secrets does an outstanding job of pointing out the issues and concerns important to clients who are or should be concerned about Medicaide eligibility.
Medicaide Secrets contains a thorough Table of Contents and a comprehensive Index that readers can use to easily find specific topics. It also provides numerous examples that prove invaluable in explaining the concepts under discussion. In fact, the real-world examples, and their direct connection of Medicaide policies and concepts to real-life situations, provide the true value of the book and set it apart from other published articles on Medicaide.
An additional fact sets this book apart from other published works: Medicaide Secrets is absolutely current. It includes the major changes in federal Medicaide law brought about by the Deficit Reduction Act of 2005, enacted February 8, 2006, and the later amendments enacted on December 20, 2006." -- The Colorado Lawyer (official publication of the Colorado Bar Association), April 2007
"Well written, clear, easy to follow, and well organized..."
"I have read your book and it is great! It is a perfect quick tour of Medicaide planning...
 Medicaide attorneys help you if you are doing Medicaide planning in the event you need to go to a nursing home.
As tax preparation time begins, many seniors are asking to include Medicaid asset protection as part of their tax planning strategies. For those of you not familiar with the 2005 Tax Reduction Act, some of the provisions address specific transfers by seniors under the new Medicare nursing home provisions. Under the new provisions, before a senior qualifies for Medicare assistance into a nursing home, they must spend-down their assets. These new restriction have a 5 year look-back, used to be 3 years. And used to be that each spouse had a one-half interest in the marital property, it now appears that all the marital assets are to be spent-down. I have not seen specific regulations but it appears that the healthy spouse will be left without any assets if one of them gets sick.
Suggestions by seniors have been to transfer their assets to their children. Although this option is available, I’m not sure that it’s a good option. What if the child decides to use the asset for themselves, what if they get divorced and the judge awards assets originally intended for the parents to the divorcing wife’s decree, what if the child get’s sued?
There are also tax implications. If the assets are transferred to the child for less than fair market value, then it’s a taxable gift. Even worse, if this type of transfer to the child is completed before the 5 years-look back, -is it a “fraudulent conveyance?”
Medicaid asset protection has to be done very carefully. Planning in this area is evolving. There are a lot of eldercare law firms popping up all over the place. I have been approached by such a firm to send them clients. They claim that they can structure a new deal whereby the nursing home won’t be able to attach assets even after they enter the nursing home.
I know this much, any method used to deflect assets from the original owner has to be done at it’s fair market value. For example you just can’t transfer your house from you to your child. There are tax consequences. Did you just sell your house? Or did you just gift your house? Who will determine the fair market value? Did you get a genuine appraisal? If therefore, it’s at less than fair market value (willing buyer and willing seller, neither under compulsion to buy or sell, each acting in their best interest) did you just create a more challenging problem?
Any method whereby there’s an element of strings attached, it’s revocable and therefore you have done nothing to disassociate yourself from your asset. One can challenge your intent, to divert assets for the purpose of defrauding a potential creditor and failure to have filed a gift tax return has statutory penalties, and interest, worse- if Medicare intended, criminal?
I am aware of only one method of disassociating yourself from your asset (personal residence, your CD’s, your investments, vacation spot) is to give it away. Period. You can gift it to your children, pay the tax and that’s it. The problem is that you no longer have any control and you are at the mercy of your child’s good intentions and a blessed spouse. Risky? You bet!
An irrevocable trust with an independent trustee (not related to you by blood or marriage) will fit the bill.
An irrevocable trust, is an irrevocable contract between you and the independent trustee to manage the assets for the benefit of all beneficiaries. You and your spouse can become beneficiaries along with your children and grand children.
Timing is extremely important. If the transfer (repositioning) of your valuable assets is done before the 5 years, chances are good that it will stand-up in court. What if it’s before the 5 years are up? Is your Medicaid asset protection plan still good? In my book it’s better to have done something than nothing.
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