Posted on 12/23/2013 9:13:09 AM PST by Oldpuppymax
The Affordable Care Act was designed to dramatically increase the number of Americans who qualify for Medicaid. In fact, the ACA will literally FORCE many low income seniors onto Medicaid rolls as subsidies for regular ObamaCare plans are NOT available to those over 55 years of age who earn less than 138% of the federal poverty level ($15,856 for individuals; $21,403 for married couples). And without such subsidies, ObamaCare plans are generally far too expensive for older, low-income individuals or couples. (1)
Why should any of this matter to those getting “free” healthcare via Medicaid?
Because: “If you’re 55 or over, Medicaid can come back after you’re dead and bill your estate for ordinary health-care expenses.” (2)
The government has long been permitted to seek reimbursement for healthcare services by attaching the assets of...
(Excerpt) Read more at coachisright.com ...
Which is a windfall for tax-avoidance lawyers, who will show you how to get taken care of on the public dime after transferring your assets out of reach of the government.
Free is never free - even if you had no choice in the matter. The house always wins...
This just keeps getting better and better...
I imagine someone with obamacare will die within the next few months and the fun will begin on THIS particular barrel of monkeys
Are there any legal ways to avoid this by placing assets in a living trust? Or a trust period?
Down here in my home state, people are seeking permits to protest the legislature because Medicaid was not expanded. This time the legislature, in my home state, protected people and they want to protest. Can’t fix stupid.
There’s usually a lookback/grabback period of several years. IIRC it’s either 5 or 7 years.
This is why you trickle the money to your kids or set up a trust, both before you die.
yes, was a five year plan to do such. Talk with an attorney familiar with trusts. Am almost positive was changed under zer0care though.
Democrat-designed Dictatorship and Holocaust.
I've been doing the same thing...but not that much.
Many folks put the house in the children’s name.
Not really. There is no real way of avoiding estate taxes short of giving it all away and even then you have to do it gradually else they'll tax it.
You have to gift it gradually.
we citizens are, after all, the King’s deer
Nope...not the house. You do these things prior to the possibility of being on Medicare and/or Medicaid.
BAD IDEA
ObamaCare is Literally a Death Tax....
If it doesn’t Tax you to death....
After your death you will get taxed....
More reason to transfer assets to PMs and other objects of value over time before you go.
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