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Follow on Google News | Medi-Cal Tightening Rules by Kevin StakerMedi-Cal is tightening rules re qualification for nursing home assistance.
By: Kevin Staker Please note the following is just general information, and not legal advice. Please do not implement any of the following in your own situation without being properly advised by us or another competent estate planning attorney. Who should consider planning for Medi-Cal to pay for nursing home care? by Kevin Staker # Those who have been diagnosed with a degenerative disease, such as Alzheimer's disease; # Elderly individuals concerned that if they have a stroke, or if some other disability afflicts them, their assets would be used up in paying for possible care in a nursing home. What is Long Term Care under Medi-Cal? by Kevin Staker Medi-Cal is the California state version of what is called Medic-Aid in other states. It is funded primarily by the federal government, but is administered by the State. Medi-Cal pays for the medical care of those who have little income or assets. In particular, it will pay for long term care in a skilled nursing facility (but generally not for assisted living care or a board and care home). Medicare will only pay for part nursing care costs for the first 100 days, and only then if the individual was transferred directly from an acute care hospital. And unlike Medicare, Medi-Cal has no minimum age limit. What are the asset limits of Medi-Cal? by Kevin Staker The "non-exempt" The primary residence is exempt. This includes a mobile home or even an apartment buidling if the applicant lives in one unit. The residence is exempt even if the applicant lives in a nursing facility, so long as he or she intends to return to live there if possible. As of today (May 2008), the home can be of any value. However, the rules will likely change soon to limit such value to between $500,000 and $750,000, depending upon the county in which the applicant resides. One Motor vehicle (of unlimited value), is exempt if used to benefit the applicant or is needed for medical reasons. In California, this would presently include even a motor home worth a couple hundred thousand dollars. Household items and other personal effects are exempt. Jewelry is exempt in any amount for a married person. For a single person, wedding rings, heirlooms, and other jewelry up to $100 in value are exempt. Life insurance is exempt for term policies, and for permanent policies of less than $1,500 in cash value. Burial plots are exempt. In addition, an irrevocable burial fund of any amount and a revocable burial fund if up to $1,500 are exempt. IRA's, work-related annuities, and other retirement plans are exempt for the applicant in certain circumstances. Such plans of a spouse are exempt in any event. Annuities are exempt in certain instances. Different rules apply for annuities issued before or after March 1, 1996. Business assets are exempt. However, rental real estate is not a business and so is a problem asset for the applicant and spouse. Assets of a spouse are exempt if they do not exceed the Community Spouse Resource Allowance (the "CSRA"), an amount determined by the government as an amount of assets the spouse needs for his or her own needs. Such amount is $104,400 in 2008. (Note: the exempt assets of a spouse, such as jewelry, are not counted toward the CSRA.) May I Give Away Assets? by Kevin Staker Gifting is an area in long term care planning that is presently very advantageous. However, it is extremely easy to make mistakes that result in long periods of Medi-Cal ineligibility, and so the advice of a competent attorney should be sought before any gifting is done. But with proper gifting, an applicant with significant assets may be able to qualify for Medi-Cal benefits. What are the Issues Regarding a Spouse? by Kevin Staker As mentioned above, the non-exempt assets of a spouse cannot exceed the CSRA. Reducing such assets to that limit one of the keys to planning for a married couple, and is an integral part of how we can assist you. Are Some Loopholes Closing? Do I Need to Consider Acting Now? by Kevin Staker The Deficit Reduction Act (the "DRA") was signed by President Bush in February of 2006. The DRA makes major changes to the rules governing Medi-Cal, making it much more difficult to qualify for benefits. However, California has yet to implement the DRA. More than two years have passed since the DRA was signed, and California has yet to implement most of the new provisions. But now, California is finally showing signs of moving forward. It is likely that California will not implement all of the DRA provisions until late 2009 or early 2010, at the earliest. However, careful planning must be done ahead of time, and one should consider what can and should be done now before these new regulations take effect. Conclusion by Kevin Staker The time is now to consider whether or not to take action to qualify for Medi-Cal to pay for long term care in a nursing home. The window of time to taking action is becoming shorter and shorter. link to law firm website of Kevin Staker:www.staker.com link to work bio of Kevin Staker: www.kevinstaker.com link to personal bio of Kevin Staker: www.kevin-staker.com link to website of Hawaii condo of Kevin Staker:www.vista- link to the blog of Kevin Staker: kevinstaker.wordpress.com link to the MySpace page of Kevin Staker: www.myspace.com/ link to YouTube videos of Kevin Staker: http://youtube.com/ link to Google Page of Kevin Staker: http://kevinstaker.googlepages.com/ link to Namyz of Kevin Staker : http://www.naymz.com/ link to MC Page of Kevin Staker: http://www.merchantcircle.com/ link to LinkedIn Page of Kevin Staker: http://www.linkedin.com/ link to: Hotfrog Page of Kevin Staker: http://www.hotfrog.com/ link to Vimeo site of Kevin Staker (this has Kenya, Africa videos in higher resolution than YouTube: http://www.vimeo.com/ link to ClaimId blog of Kevin Staker : http://claimid.com/ link to Technorati of Kevin Staker: http://technorati.com/ link to Medi-Cal subdomain of Kevin Staker: http://medi- link to the Newsvine page of Kevin Staker: http://kevinstaker.newsvine.com/ Newsvine Article on Medi-Cal by Kevin Staker: http://kevinstaker.newsvine.com/_ June 10 Update by Kevin Staker Kevin Staker on http://kevin- Note: kevinstaker at gmail.com is email login HotFrog Press Release1105: HotFrog Press Release 1106: http://www.hotfrog.com/ Wikispaces page of Kevin Staker: http://kevinstaker.wikispaces.com/ Google Sites site of Kevin Staker:http:// Zoho wiki of Kevin Staker: http://kevinstaker.wiki.zoho.com/ Wikihost wiki of Kevin Staker: http://wikihost.org/ Prlog press room of Kevin Staker : http://pressroom.prlog.org/ Link to LiveJournal page of Kevin Staker: http://kevinstaker.livejournal.com/ Link to this same Wetpaint wiki page of Kevin Staker: http://kevinstaker.wetpaint.com/ Link to StumbleUpon blog of Kevin Staker: http://kevinstaker.stumbleupon.com/ Link to links pages on Medi-cal of Kevin Staker: http://medi- # # # StakerLaw Tax and Estate Planning Law Corporation, Kevin Staker is a certified specialist in Taxation and Estate Planning, Probate and Trust Law End
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