/johnny
Should it read Medicaid and not Medicare.
So again, Governor Palin was right about slavery. Tell me again why she isn’t in a leadership position?
. . . which is why you place all your assets in a Living Trust. . . you technically, and legally, HAVE no assets. . .
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.
I went to HS with Glen. He led our Americans Against Communism club.
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.
If Glen Downs is such a clever guy, he should know the difference between Medicaid and Medicare.
Madicaid is welfare. If someone has assets why should tax payers foot the bill.
I have to wonder, does the author know the difference between Medicare and Medicaid?
“Medicare is Seizing Estates of anyone over 55.” is the title but the article goes on to discuss Medicaid. There is a difference.
I do have a problem with Medicaid because it creates lazy ass people that never prepare for anything. Those on Medicaid tend to be on food stamps, public housing, and every other hand out. All of these hand outs create the problem.
My sis found a way to protect our mother’s house from this. Mom quit-claimed half her ownership to me. No matter what happens no one can put a lien on the house to recover Medicare payments.
“Medicare Is Seizing ...”
Medicare is NOT Medicaid.
Anyone involved in getting Medicaid for a parent or themselves needs to talk to a lawyer that specializes in elder affairs. The Gov’t generally goes back 5 years from the time a person qualifies looking for transfers of money or property. Setting up a life estate is one way of getting around having the Gov’t seize property. Once you get past the 5 year window, the Gov’t can’t seize anything. Best advice for those with aging parents, get property in a life estate ASAP.
As far as getting a lawyer involved, the nursing homes will provide legal services for free that will get a patient qualified for Medicaid, and they pretty much guarantee they can do it. However, they’re not necessarily concerned with what happens after the patient dies, which is when the Gov’t will come after property.
An independent lawyer who specializes in elder affairs will work to set things up so the Gov’t has minimal chance of seizing assets. In my experience you can expect to pay $3K at a minimum, but having someone with experience in this area is worth a lot.
Ping
Medicaid is different than Medicare. The author doesn’t seem to know this. The statement “We haven’t had lots of people younger than 65 on Medicaid” is nonsense. The vast majority of Medicaid recipients are children on AFDC and their parents. People over 65 are automatically on Medicare. Medicaid only picks up what the patients share of Medicare for poor people over 65.
Bump for reference.
Header wrong——It’s Medicaid,not Medicare.
Big difference.
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I find it difficult to trust any economist who does not understand that Medicare and Medicaid are separate programs.