Update with a caveat.....
Nothing new, except that I would be remiss in failing to point out what may be a change in our long term planning.
My posts #146 and #150, covered in broad terms, the idea of using medicaid as a factor in protecting a spouse when part of the team must go into longterm care, supported by medicaid laws.
While I believed this would be a good possibility at the time, a recent NYT article covering potential changes in medicaid... (In particular for the state of Illinois) is making me rethink my plans.
https://www.nytimes.com/2017/06/24/science/medicaid-cutbacks-elderly-nursing-homes.html
While I don't expect that others would incorporate my thinking in their own plans, there is a good possibility that what might have worked well in the past, may not be available in the future. Since any change would likely be state-dependent, watching for possible legislative changes in your own state might be worthwhile from a planning standpoint.
Changes (as of today's best bet) would not come until 2020 or possibly 2021, but the time to look ahead, is now.
Nothing new, except that I would be remiss in failing to point out what may be a change in our long term planning.
My posts #146 and #150, covered in broad terms, the idea of using medicaid as a factor in protecting a spouse when part of the team must go into longterm care, supported by medicaid laws.
While I believed this would be a good possibility at the time, a recent NYT article covering potential changes in medicaid... (In particular for the state of Illinois) is making me rethink my plans.
https://www.nytimes.com/2017/06/24/science/medicaid-cutbacks-elderly-nursing-homes.html
While I don't expect that others would incorporate my thinking in their own plans, there is a good possibility that what might have worked well in the past, may not be available in the future. Since any change would likely be state-dependent, watching for possible legislative changes in your own state might be worthwhile from a planning standpoint.
Changes (as of today's best bet) would not come until 2020 or possibly 2021, but the time to look ahead, is now.
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