Medicare is Seizing Estates of anyone over 55.

Michael Armstrong's blog ^ | November 13, 2013 | Glen Downs

[Vince Ferrer]

Glen Downs is a congressional staffer in the current congress.

[JRandomFreeper]

Wonder how that works with a traditional homestead.

/johnny

[klamath]

Should it read Medicaid and not Medicare.

[Junk Silver]

I believe the author intended to write “Medicare” instead of “Medicaid” in the article.

Medicare is health coverage for older Americans that theoretically is paid for by payroll taxes.

Medicaid is Single Payer insurance for the poor, which will soon be most of the USA.

[2ndDivisionVet]

So again, Governor Palin was right about slavery. Tell me again why she isn’t in a leadership position?

[Salgak]

. . . which is why you place all your assets in a Living Trust. . . you technically, and legally, HAVE no assets. . .

[steve86]

I guess Martin Armstrong’s title writer is confused between Medicare and Medicaid?

In my state, a representative attends probate hearings and cross-checks against known Medicaid recipients. All Medicaid expenditures, including premiums and capitation and not just limited to long-term care, delivered after the recipient is 55, are eligible for estate recovery.

[hinckley buzzard]

In Ohio the state will allow a spouse of a recipient to stay in the home so as not to impoverish her/him, but when the home is vacated by the spouse it is auctioned or sold for recovery of assets. That's under existing law. IDK if or how Obamacare will change this. It is really not that unfair when you consider Medicaid is designed for impoverished people, not homeowners.

[AppyPappy]

I went to HS with Glen. He led our Americans Against Communism club.

[Southack]

The article fear mongers a bit with poor writing that implies that everyone on Medicaid/Medicare can have their homes seized after death.

...but the reality is probably just that early Medicaid/Medicare enrollees qualify for asset seizure...those 55 to 64.

People over 64+ going onto Medicaid/Medicare shouldn’t be in jeopardy of having their homes seized to pay for their medical care.

[bigdaddy45]

uhh.... because she hasn’t run for one?

[hinckley buzzard]

You better do it now, then. In Ohio, probably other states as well, Medicaid has a lookback of five years.

[2ndDivisionVet]

Presidents George Washington, Ulysses Grant, Dwight “Ike” Eisenhower and several others were drafted to be candidates. Did you know that?

[LachlanMinnesota]

Yes, but they are still counted as assets if the trust is revocable and you must put it in an irrevocable trust and it must be done far enough in advance of the application for medicaid benefits, at least 5 years in advance.

If you apply during that time it results in a calculated period of ineligibility for the benefits based on the value of the assets transferred away without fair compensation in return.

[Mr. Lucky]

If Glen Downs is such a clever guy, he should know the difference between Medicaid and Medicare.

[LachlanMinnesota]

It is thus in Minnesota as well, and you may not gain anything by transferring to a revocable trust.

[RinaseaofDs]

He’s not fear mongering. He’s saying that since there is no longer an asset test, BUT there is still the mandate to recover costs, AND since all kinds of new people will be enrolling - the new enrollees may not know it, but it is possible ALL subsidies and cost under the ACA may be recoverable by asset sale after death.

IF that’s true, whoa Nellie.

[21twelve]

Thanks for the info!

[saleman]

I think what he is saying, is that many people will be moved from medicare to medicaid thanks to the ACA. Which will result in their assets being forfeited to pay for their care.

[DManA]

Madicaid is welfare. If someone has assets why should tax payers foot the bill.