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.
This is why you trickle the money to your kids or set up a trust, both before you die.
we citizens are, after all, the King’s deer
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.
Medicaid Estate Recovery already cancelled for those newly enrolled in Expanded Medicaid (in Washington and Oregon), except for long-term care expense.
There is so much misinformation on this thread.
How much should be passed on. $50,000. $500,000 $5,000,000?
What is wrong with paying back the government before your heirs can inherit any money?
What is wrong is getting expensive, free medical care when you have a bundle of assets. Forcing people into Medicaid when they are not poor is also wrong. Medicaid makes you a second class patient not welcome by an increasing number of physicians.
The entire welfare/health care/insurance system is FUBAR. The Federal government needs to completely withdraw with any active participation in these systems, assuming an advisory role only. HHS needs closing permanently. The free market will yield the best health care system at the least cost & greatest convenience.
I know a left winger who has been on medicaid for years. He has money but he hides it. I will laugh if his liberal wife and offspring get screwed when he dies. One of them is constantly worried about her mother spending “her” inheritance.
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?