Senior Living Summer 2021

SENIOR LIVING SUMMER 2021 ESSEX MEDIA GROUP 3
Do you know someone who needs assistance with a Medicaid long-term care application?
We’re here to help!
Nursing homes are expensive. Not everyone has
the funds to private pay for 24/7 care. Most families
don’t even consider nursing home care for their
loved ones until a crisis occurs, and then are left
with little options. Upon admission, the nursing
homes will ask, “what are the assets and what is the
payor source?” How the nursing home care for your
loved one is going to be paid for can send panic
throughout a family. Most families are not even aware
life insurance policies, investment accounts, stocks,
bonds, annuities. Has a Durable Power of Attorney
been established? Do they have a pre-paid funeral?
Is there an irrevocable or revocable trust? Do they
have a reverse mortgage on their home? Is there a
spouse still living at home? How do they obtain all
of these documents and how is all of this handled
with a Medicaid long term care application? Should
they hire an elder law attorney to handle this? But
attorney fees can be in excess of $10,000. Where do
they turn?
Medicaid is a state-issued medical assistance program
to help pay for healthcare related costs, including
for eligibility. Eligibility is determined by income,
assets, residency and household composition.
for a Medicaid application, and navigating the
complicated regulations can be an overwhelming
burden.
Darcia Tremblay is the president and owner of
Silver Lining Solutions, Inc. with over 12 years of
experience in processing Medicaid applications.
In Massachusetts there is a 5- year look - back
opened or closed bank accounts. Asset transfers,
are subject to the 5 year look back period. When
applying for Medicaid, the application requires
years preceding the date of application. It is critical
to understand how any transfer of assets will be
considered for Medicaid penalty periods and what
steps may be necessary to cure the transfers.
If the Medicaid applicant has a spouse still living
at home, Medicaid looks at the income and assets
that assets can be transferred to the spouse living
at home with no penalty period. In addition, the
at-home spouse is allowed to keep all of his/her
monthly income. In some instances the spouse may
be allowed to keep some of the applicants monthly
income to bring him / her up to the federal and state
minimum monthly maintenance allowance amount.
There are still asset limits that will need to be met.
Assets over the limits are considered to be part of
a spend down.
It is evident that the Medicaid application process
can be challenging, confusing and frustrating.
Fortunately, there are Medicaid application
professionals that have extensive experience that
will guide applicants and their families through the
process. Companies such as Silver Lining Solutions,
over 3000 Medicaid applications. Silver Lining
Solutions is based upon caring, compassionate and
personalized relationships with the applicants and
families, while maintaining open communication
the full Medicaid application process is an allowable
spend down expenditure. Silver Lining Solutions
provides full assistance with navigating the Medicaid
application process.
———————————————————————————————
SilverLiningSolutionsMA.com
———————————————————————————————