Medicaid Nursing Home Spend-Down Program: 5-Year not Look Back

Seventy seven million (77 million) middle class aging baby boomers leave Medicare as a type of long-term care insurance. The Cato Institute estimates that 60 trillion U.S. dollars Medicare is an unfunded, unaccounted for obligation .*

Medicare / Medicaid programs are dual eligibilities state programs for the elderly, blind and disabled users and serious long-term care for the poor poorer. Medicaid is the biggest responsibility in the national budget withcrowned elementary and secondary schools. For 2003, total Medicaid spending 267 billion U.S. dollars in many states. Of this, Medicaid financed nursing home accounted for about $ 51000000000 $ 9.9billion and home care .*

Tax Reduction Act of 2005 mandated new spending down all their combined assets before the elderly sick spouse can qualify into a nursing home. The law establishes a review every five years for all transfers to the elderly developedmake state resources available to pay the nursing home.

WHAT 'SPEND-down nursing home?

On the left a provision to say is that "you must pay for your nursing home with a sale of all contents and real personal wealth to the point of financial devastation in life's savings your Eligibility Continue is specifically intended to be in financial difficulty nursing home the lack of available resources developed/ Punish impoverish the healthy spouse.

Why is it important Medicaid estate planning?

The problem with the five-year look back provision is that the new Medicare regulations do not consider the healthy spouse. It is a social punishment of the marriage certificate. This is a new social discrimination on the basis of health. Finally, the elderly will be forced to choose a divorce in order to maintain their financial dignity.

And the Medicaid-HEALTH CARE HAPPENINGSYSTEM?

The gross mismanagement of the social security system is in place baby boomers think seriously about their long-term health care. You will get no money from the time baby boomers retire. Health care has increased at an alarming rate. Government planners have understood for many years that could save 10 billion U.S. dollars in just five years, increasing the look back provision 3-5

What's The 5-year-LOOK BACK forNursing Home Program?

Prior to qualify for nursing home care program the government is a look back 60 months to see if and when your assets are transferred to price below fair value in cash, or transfer your assets into a trust system or a system transfer of resources for its certification program nursing home deprive the state of all resources available for your long-term health .**

SOCIALCHANGE at your home equity

According to the National Council of Aging, 81% of America's 13.2 million households age 62 and over own their own home. Seventy-four (74%) of older people, even their homes free and clear. Overall, the elderly were almost $ 2trillion net asset value at home .* This is the hand of government to help you understand how to spend it.

They want to use home equity to take care of your pay for your own long term health! They arewould be suitable for super-easy for you or against them "reverse mortgage" How to create a new government sponsored reverse mortgage industry. Based on this perceived wealth, it will not last long, government mandate to look back 10 years of provisions for asset transfers more than 20 years for fixed assets.

WHAT'S a reverse mortgage?

A Reverse Mortgage (RM) is a special type of loan when they reach 62 years old can be (ifmarried, the youngest must be at least 62) and building your own home, or co-op. A Reverse Mortgage (RM) becomes part of the value (equity) of a house in cash while. The main feature of this program is that it is not necessary to qualify for the credit for the loan.

The money can be borrowed at once, his monthly payment, line of credit or a combination. Reverse mortgage is a loan without recourse. There is the personal responsibility of the borrower, or their propertytheir heirs. The house is the collateral and the borrower to make monthly payments do not have, is the opposite, you pay the bank.

What is happening is that the interest on the loan accrues and charged compounds on itself accelerate the amount of capital away from home, not to mention the extravagant alternative forced taxes, if nothing else. What's wrong with reverse mortgage is that the dignity of senior financial evaporate quickly,before their eyes.

What can YOU do to prevent government mandated the confiscation of Medicaid home care program spend DOWN?

Good planning is done when the seas are calm, it is often too late when the seas are rough. E 'became obvious that the government has its financial input to generate more money with printing presses. As a boomer myself, I do not like it when Big Brother has planned for my income and accumulated wealth.

The more money you throwon them, the more they want is a black hole universe. If the government wants us to our own long-term health care, then do not buy, because it is tax deductible. Why excess on Form 1040 Heath costs to 7.5% gross profit. Why not long-term insurance deduction for 100% tax deductible, or even better because it is not convenient.

* Source: Stephen A. Moses, Cato Institute policy analysis, N. 549, Aging America's Achilles' heel Medicaid long-termCare

** Transfer of assets under 100.00, it is right that the value of money is to transfer your home to your son for $ o is a taxable gift of $ 12,000 allowed each year as exclusion or as a "fraudulent transport . See Form 709 gift tax consequences, see his lawyer as a fraudulent transfer or call 888 Rocco Beatrice 93ULTRA (888-938-5872) for a free consultation to avoid.

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