With the passing of the Affordable Care Act, the national minimum eligibility level for Medi-Cal is 133% of the federal poverty level. A common misconception that many people have is that they can make themselves eligible for Medi-Cal by, basically, giving away their assets. However, there are mechanisms in place that discourage individuals for doing just that. If you transfer your assets within five years of applying for benefits, Medi-Cal will likely withhold your benefits for a specified … [Read more...] about Three Ways to Protect Your Assets from Medi-Cal
Medi-Cal Planning
When Does Medi-Cal Pay for Nursing Home Care?
Long-term care facilities, like a nursing home or assisted living facility, are often very expensive. Unfortunately, private health insurance policies usually do not cover these services. Medicare coverage for long-term care is limited and most people do not have private long-term care insurance policies. For California residents who require long-term care services, Medi-Cal is the source of funding most often used. In fact, Medi-Cal covers the nursing home expenses of nearly 65% of California … [Read more...] about When Does Medi-Cal Pay for Nursing Home Care?
Free Report: California Medi-cal Spend Down
The purpose of Medi-Cal is to provide medical care assistance to low income individuals and families. Medi-Cal is funded and operated on both the state and. federal levels. Understand that Medi-Cal is not the same as Medicare, which is a federal health insurance program for the disabled and individuals age 65 and older. With Medi-Cal, the physicians, hospitals and other medical care providers, who are enrolled in the Medi-Cal program, are paid on your behalf. Topics covered in this report … [Read more...] about Free Report: California Medi-cal Spend Down
Family Wealth Trusts and Medi-Cal Trusts
There are so many different types of trusts that you can create, understanding the differences between them can be a challenge. Take, for example, Medi-Cal Trusts and so-called Family Wealth Trusts. A Medi-Cal Trust is a special type of trust basically used to shelter your assets in order to preserve your eligibility for Medi-Cal benefits. By using a Medi-Cal Trust, you can receive income from the trust up to a certain amount, without jeopardizing your Medi-Cal eligibility. On the other … [Read more...] about Family Wealth Trusts and Medi-Cal Trusts
Can a Medi-Cal Trust be Revoked?
When clients ask can a Medi-Cal Trust be revoked, the answer is no, but there are other options. The reason that a Medi-Cal trust works is because it is irrevocable. An irrevocable trust cannot be altered or amended. Medi-Cal laws require that such a trust be irrevocable because, if you can receive from the trust any portion of the principal, then the entire value of the trust becomes a countable asset for Medi-Cal eligibility purposes. If a Medi-Cal trust is not irrevocable, then for the … [Read more...] about Can a Medi-Cal Trust be Revoked?
Medi-Cal Monthly Maintenance Needs Allowance
In order to be eligible for Medi-Cal, applicants are required to have limited income and assets. Any assets you own, with very few exceptions, must be used to pay for medical expenses. What does that leave for spouses of Medi-Cal recipients? Many people become concerned about how they can continue to support themselves if their spouse is placed in a nursing home, while receiving Medi-Cal benefits. There is help available, including the Medi-Cal Monthly Maintenance Needs Allowance. Support … [Read more...] about Medi-Cal Monthly Maintenance Needs Allowance
Does California Medi-Cal Provide In Home Services?
Medi-Cal is a healthcare assistance program created for the benefit of individuals with low income. Federal, state and local tax funds are used to assist eligible individuals in paying their medical expenses. Typically, Medi-Cal recipients are not required to pay for any covered medical expenses, except for a small co-payment. Medi-Cal is run by the state. California’s Medi-Cal program is called Medi-Cal and it provides free or low-cost health coverage for California residents. The Medi-Cal … [Read more...] about Does California Medi-Cal Provide In Home Services?
How Does the Medi-Cal Spend Down Process Work?
Low-income individuals may be eligible for healthcare assistance, through Medi-Cal, if they are “medically needy.” That means the individual’s resources must not exceed the maximum resource amount allowed in their state. If, by chance, that individual’s income exceeds that amount, they may still be eligible, through Medi-Cal spend down rules. If you are able to “spend down,” or deduct your medical expenses from your income, you may be eligible for Medi-Cal. So, how does the Medi-Cal spend … [Read more...] about How Does the Medi-Cal Spend Down Process Work?
Do Healthy People Need Medi-Cal Planning?
You may think that, because you are pretty healthy now, you won’t need long-term care in the future. Hopefully, you are right. But what if you aren’t? Although you may not have any health issues right now, you cannot predict how healthy you will be in 30 or 40 years. More than two-thirds of people over the age of 65 need long-term care at some point in their lives. The reality is, healthy people need Medi-Cal planning, too. Why you may need long-term care, even if you are healthy … [Read more...] about Do Healthy People Need Medi-Cal Planning?
The Impact of the Deficit Reduction Act on Medi-Cal
The Deficit Reduction Act was signed into law by President Bush, in 2006, for the purpose of generating net reductions of $4.8 billion through 2010, and an additional $26.1 billion through year 2020 from Medi-Cal. As Medi-Cal provides health care coverage and long-term care assistance to more than 39 million members of low-income families and 12 million elderly and disabled individuals, the impact of the Deficit Reduction Act on Medi-Cal is unavoidable. The purpose of the Deficit Reduction … [Read more...] about The Impact of the Deficit Reduction Act on Medi-Cal
