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 ...
The just have to pay the recording tax...they don’t have to pay their parents. It’s a paper transaction.
Huh? What completely different issue? Did you mispost this to me?
Yes, I realized a few years ago that we had passed the point of no return and the Big Collapse was inevitable. There is absolutely no political will in this country to cut spending and reform entitlements. As evidence look at this latest joke of a budget compromise; we are running trillion dollar yearly deficits and they claim a cut of 20 billion over ten years? I did not choose this reality, but I can position myself for what is to come.
No harm no foul
Merry christmas
and a Very Merry Christmas to you and yours, morphing.
Could you please provide a reference, or starting point online?
“10,000 / year used to be the limit, I think.”
Its up to $14K per year per person. It was increased recently. In other words, you can gift up to $14K per year for a married couple. As an example, $14K to your child and another $14K to their spouse if you like.
http://www.irs.gov/uac/2013-Inflation-Adjustments-to-Various-Tax-Benefits
Do we know what zer0care says yet?
There is nothing wrong with having to pay the government back for care received prior to being able to leave an estate to heirs. BUT, when illegals receive free care and money forever and Americans are not even informed that their estates will be confiscated thanks to the fine print in ObamaCare, something is definitely out of whack!!
You are talking about a fair market sale that could bypass capital gains tax.
I was talking about medicaid and estate tax.
The Medicaid expansion is hitting across the board...
My current policy is gone at the end of the year due to it being “non-compliant”. I had been paying $469 per month for my family of 4.
Through the exchange - I got a “great” deal on insurance - for me and my wife (thanks to taxpayers). But it didn’t tell me that my children were being turned over to the state Medicaid program. No notice at all. I received my new insurance cards and there were none for my daughter (9 and 8). I and to call my insurer, then call the marketplace folks... who finally came out and told me my daughters qualified for the expanded medicaid program. So - under the exchange - my insurance premiums for just my wife and I are almost $700 per month (but my part is a very small fraction of that) - and we have been going back and forth with the state Medicaid office over the phone and computer - pulling our hair out. Apparently, my daughters won’t have health coverage until February...
And oh - by the way - the policy for my wife and I that the taxpayers are heavily subsidizing... is nearly identical to my current policy, except my current plan has a lifetime maximum (which is illegal under O-Scare). Seriously - same coverage... same copays... same general benefits. So - affordable?
And my children are not even covered by it - they have been dumped on medicaid... How can this thing ever fly?
Do you mean for the fact that some states are rolling back the requirement? The second link in the article, the Seattle Times one, should discuss that.
Washington State's own administrative rules for Medicaid Estate Recovery are given here:
http://www.dshs.wa.gov/manuals/eaz/sections/EstateRecovery.shtml
A short summary:
http://www.dshs.wa.gov/pdf/ms/forms/14_454.pdf
One quirk in all this is that for regular Medicaid enrollees, as opposed to Expanded Medicaid ones, the recovery should still be applicable, from what I understand. Unless the rollback includes them also, many thousands will still be affected.
Washington State typically recovers about $17 or $18 million a year, mostly from long-term care expenses. This isn't actually a very large part of the estates that theoretically would be subject to recovery. As always, incurred costs beginning at age 55, including premiums the state pays to contractors and capitation, are eligible. At the moment I've forgotten whether long-term care expenses incurred before age 55 can be eligible in some cases.
If you or anyone have any other questions I would be happy to look up answers.
I actually believe "force" is a bit strong.
It is true the state can take the first steps to automatically enroll an individual if qualified.
But, in my state, at least, the individual has to sign a statement indicating that he or she understands the Medicaid Estate Recovery rules, among other things, before the enrollment is complete.
Even if one somehow gets enrolled against one's will, you can get out. If a simple request to disenroll doesn't work, you can:
1) Fail to respond to a request from the state for income verification. You will be given a second notice and a warning and then kicked out.2) Have income in any one pay period exceeding the limit (such as ordinary income, or something like an early withdrawal from an IRA, which you can recontribute later), and notify the state.
3) Move to another state, if only for one 24-hour day, and send the state a registered letter stating you have moved. No state is going to follow up to see if you move back again.
“According to this post, & I have read it elsewhere, the state can force you into Medicaid if you are below the income threshold, regardless of your assets & over 55.”
You are only forced onto Medicaid IF YOU WANT THE SUBSIDIES. If you are willing to forfeit the subsidies you can buy insurance outside of the exchanges.
It may be pricey,but it would protect your assets.
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Yep!
See my post #74
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Yes, you can buy unsubsidized non-exchange coverage (if you can afford it) and notify your state you have other coverage. I’m not in a position to do that myself.
The transfer of ownership has to occur at least five years before you sign up for Medicaid and sometimes 10 years, depending on the state. So, people will be signing up for Medicaid who are completely unaware of this. I know in one state where an attorney was PROHIBITED by the state from advising people on how to avoid a Medicaid liability.
” I know in one state where an attorney was PROHIBITED by the state from advising people on how to avoid a Medicaid liability.”
—
And what state would that be?
.
The state of imagination.
I would think you could give all your assets to family and avoid this. Heck, I would give everything to some guy off the street just to screw the gooberment if I were on my death bed.
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