In truth, Medicaid can be a resource for many individuals, based on whether they meet the income and asset criteria for eligibility. However, especially in states like Texas that have strict caps on how much money a person is allowed to make to still receive benefits, it can be difficult to prove that you meet the criteria. An experienced Medicaid planning lawyer can help you prepare for the costs of long-term nursing home care so that these costs do not burden your family in the future.
Medicaid is a cooperative effort between the federal government and the state that provides medical benefits to eligible people who would otherwise not be able to afford health care. The program also provides long-term care for eligible recipients age 65 or older, including care received at residential nursing homes, assisted living facilities, and adult day care programs.
There are several long-term care benefits that can be provided through Medicaid to Texas residents, and each benefit has its own income and asset limit. As of 2022, the following limits apply:
If you exceed the income limits to qualify for Medicaid, there are a few other options for obtaining the benefits, including:
Medicaid planning services often feature a multipronged approach to preparing an individual financially for long-term care, focusing on providing the intended Medicaid recipient with the best opportunity possible for being accepted into the Medicaid program. Medicaid planning lawyers can not only assist you in determining whether you meet the eligibility specifications to receive nursing home assistance through Medicaid, but they can also help you create trusts and other asset protection approaches and even provide assistance in completing your Medicaid application.
Some of the common issues that require a Houston Medicaid planning attorney include:
Nursing home care can cost more than $75,000 a year in Texas. These costs can be debilitating to a family who is unprepared. Our firm helps individuals to protect their assets for their family members while also obtaining the necessary assistance with affording nursing home care. Contact us to begin developing a strategy for your future.
Yes. While Texas has a strict cap on the income and assets you can have and still be eligible for Medicaid, the state does allow an exclusion for your personal residence—if the residence is also located in Texas and the applicant intends to return to the home if they are able to do so. The applicant can also qualify for Medicaid by transferring the home to a spouse.
It should be noted that if you transfer ownership of your home to someone other than your spouse, there may be a period of time in which you are not eligible for Medicaid. This is known as the penalty period. This penalty period can be avoided if the home is transferred via a revocable transfer on death deed (TODD) or a lady bird deed in Texas.
If you received Medicaid in order to pay for long-term care services such as nursing home care, every state’s Medicaid program has a Medicaid Estate Recovery Program. This program allows the state to seek repayment for their services through a deceased recipient’s estate. Medicaid explains this program to all new recipients and also files a notice with the representative of the estate, letting them know that it intends to file a claim.
The types of property that Medicaid can seek repayment through include the home and personal belongings left to heirs. Medicaid cannot seek repayment from assets transferred outside the probate process, including trust assets, real estate transferred by TODD or lady bird deed, financial accounts with pay on death beneficiaries, or retirement accounts or life insurance policies with properly designated beneficiaries.
Texas residents who are eligible for Medicaid include those who are pregnant, responsible for a child 18 years or younger, blind, disabled, living in a household with someone who has a disability, or at least 65 years of age and meets the income and asset limits.