Many seniors get Medicaid to pay for the costs of nursing home care. Getting Medicaid to pay for care can be very important because Medicare will not cover a nursing home under most circumstances, nor will private health insurance. This means if you do not have Medicaid coverage, there is a very good chance that you will end up having to pay out of pocket for your care.
Unfortunately, the problem is that Medicaid is means-tested so you may not qualify for benefits if you have countable assets. There is also another very serious issue that you need to consider as well. There are estate recovery rules in place that are set by the federal government and that require states to try to collect back money paid out for Medicaid-covered nursing home care. The Medicaid estate recovery rules could allow the state to try to take your home in order to recoup the money that was spent on your care.
Can Medicaid Take Your Home After Death?
Medicaid estate recovery rules allow the state to take a number of different tactics in order to try to recoup the money that was spent by Medicaid on your care. One of the tactics that Medicaid can take is to make a claim on your estate and try to collect assets after your death. Medicaid may also be able to place a lien on property that you own and then will get repaid for the care you receive when the home is sold either during your lifetime or after your death.
Although the federal government requires Medicaid estate recovery, every state sets their own parameters and rules for how they attempt to recover the money paid out. This means if you own property or assets outside of Connecticut or obtained Medicaid coverage in a different state, you could face a different estate recovery process.
The bottom line, however, is that under Medicaid estate recovery rules, it may be possible for the state to try to recover what was spent by taking and selling your home. However, there are some limitations to when Medicaid will be able to take this action. For example, if you have a surviving spouse, Medicaid may not be able to take the home when your spouse is still alive. Medicaid may also be restricted from trying to take the house if you have minor children, blind or disabled children, or if caregivers are living in the home and would face hardship if it was taken.
These are just some of the limitations put on the Medicaid estate recovery process, and the rules on when your home is protected can also differ by state as well. But, because your home could potentially be at risk, you do need to be proactive about working with Medicaid planning attorneys to do your best to try to ensure that this valuable asset — and other assets that you own — are kept as safe as possible.
Getting Help from Medicaid Planning Attorneys
Nirenstein, Horowitz & Associates will provide you with the help and support that you need to try to protect your assets from being lost both during your lifetime and after your death. You do not deserve to have your chance to leave a legacy lost because you have the misfortune of needing nursing home care. You work too hard to build wealth and buy a home so you can hand it down to your loved ones, and you don’t want to find yourself in a situation where all is lost just because you have to move to a nursing home.
To find out about the ways in which we can help you to protect your assets so you can qualify for Medicaid without having to first impoverish yourself — and how we can help you to keep your wealth safe from being lost due to Medicaid’s estate recovery rules — join us for a free seminar. You can also give us a call at 860-548-1000 or contact us online at any time for personalized advice.