I have been researching Medicaid and thought I would post my findings. Note that I am in New York, and each state may have different laws.
Look like Medicaid can place on lien on property only if a person does not occupy the property. So a person in a nursing home could have a lien placed. If the person comes out of the nursing home, for example, the lien must be removed.
Medicaid will try to recover the amount it has paid out from your 'Probate' estate when you die. Probate estate being property held in your name alone, without a named beneficiary. The solution is to make sure you have no property that falls into the 'Probate' estate category. Make sure your accounts have named beneficiaries, or is held as Joint Tenants with Right of Survivorship - JTWROS. Make arrangements to have real property not fall into the 'Probate' category upon your death. Doesn't seem that hard to protect an estate in a Probate recovery state like New York.
Medicaid outlays from age 18-54 are NOT subject to estate recovery. Age 55 plus IS subject to recovery. Medicaid can only recover up to 10 years worth of benefits counting back from the date of death.
I ask that if anyone knows the law, please correct me if I have made any errors about this.
Look like Medicaid can place on lien on property only if a person does not occupy the property. So a person in a nursing home could have a lien placed. If the person comes out of the nursing home, for example, the lien must be removed.
Medicaid will try to recover the amount it has paid out from your 'Probate' estate when you die. Probate estate being property held in your name alone, without a named beneficiary. The solution is to make sure you have no property that falls into the 'Probate' estate category. Make sure your accounts have named beneficiaries, or is held as Joint Tenants with Right of Survivorship - JTWROS. Make arrangements to have real property not fall into the 'Probate' category upon your death. Doesn't seem that hard to protect an estate in a Probate recovery state like New York.
Medicaid outlays from age 18-54 are NOT subject to estate recovery. Age 55 plus IS subject to recovery. Medicaid can only recover up to 10 years worth of benefits counting back from the date of death.
I ask that if anyone knows the law, please correct me if I have made any errors about this.