Attempting to explain the nuances of Pension Aid & Attendance and the Florida Medicaid ICP program in this article is simply not practical. So the next few paragraphs will lay out the basics. Once these concepts are understood, IT IS CRITICAL THAT THE READER OBTAIN PROFESSIONAL HELP BEFORE IMPLEMENTING ASSET PROTECTION STRATEGIES.

Let’s start with the Veterans Administration Aid and Aid benefit because when an older person may qualify for this benefit, it is often the only benefit they ever needed or it is the benefit obtained and used immediately before needing the Medicaid benefit. PCI.

Homebound Veterans and Aid and Assistance Benefits

It is crucial to understand that Aid & Attendance is a reimbursement program. This means VA will pay up to its maximum benefit to reimburse a veteran for all medical expenses. Therefore, before applying, money must be spent. Therefore, if a family member or other person provides care, the veteran must pay for the services in a way that the expense can be proven (cancelled check, cash not recommended). Obviously, if the care is provided by a commercial homemaker or home health care company, proof of payment will be available. Here is the real point of this paragraph; VA Aid & Attendance is a reimbursement program and benefits will NOT be paid based on future expectations unless the same type of expense is already being incurred.

Next, it is extremely important to understand two things

1. Currently, VA does not have set rules about the amount of assets a person can have and qualify for benefits. The general rule is that a couple cannot have more than $80,000 and a single person cannot have more than $25,000. While this is fine as a general rule of thumb, be careful when relying on these numbers, as the older a person is, the lower these numbers are. The basic theory is that the VA will try to calculate how much money the applicant will need to make it to the end of their life. So someone who is 90 will need less than someone who is 75.
2. There is currently no look-back period for gifts. Therefore, someone who gifts excess assets to children or to a properly drafted and selected irrevocable trust (a skilled attorney is a must) today can apply for benefits tomorrow without fear of disqualification due to the gift. However, it is absolutely imperative to understand that massive changes to this and other VA Aid and Aid and Stay-at-Home policies are underway and inevitable. So, if a loved one who is a veteran and needs care served a total of 90 days in the service, one of which was during the war (combat service not required), and did not have a dishonorable discharge , and you are receiving care, now is the time to seek benefits. Now no later.

The maximum potential benefit for a single veteran is $1,788, for a married veteran it is $2,120, for a surviving spouse of a veteran $1,149, and for two married veterans $2,837.

Nursing Home and Assisted Living Medicaid

There are two main concepts to understand when qualifying for Florida Medicaid Long Term Care benefits.

1. There are three types of assets a) exempt b) countable c) non-countable
2. Applicant’s income cannot exceed $2,199 in Florida

The entire Medicaid Planning process is focused on reducing income below $2,199 and countable assets below $2,000 for an individual or below $119,220 for a couple. Income reduction is achieved by using a qualified income limit trust. Countable assets are typically reduced by a) gifting money and waiting five years to apply for Medicaid b) gifting money, applying for Medicaid, and then using the gifted money to pay the nursing home bill until the period of ineligibility created by the gift has expired c) exchange accounting assets for exempt or non-accounting assets d) or some combination of the three strategies.

Once the above concepts are understood, planning can begin.

If you need help with VA benefits, the person must be authorized to help with an application from the Veterans Administration. This includes lawyers and non-lawyers alike. If you need help with a Medicaid application, a person of your choice can help you, but only an attorney can make initial strategic decisions, create a plan, and draft legal documents. An application specialist company is likely to be the most successful in implementing the plan and expediting approvals.