How does Medicaid spend down work in Indiana?
Your “spend-down” is the amount that your income is over the Medicaid income limit. So, as soon as your medical expenses are greater than your “spend-down,” you can get Medicaid to cover the rest of the medical bills for that month.
What can Medicaid spend down be used for?
Some examples of health care costs that you might put toward a Medicaid spend down include: Medical bills, past and current. Transportation services to get medical care. Home improvements to help with medical care, like a chair-lift.
How much does Medicaid pay for nursing home care?
How Much Will Medicaid Pay for Nursing Home Care? In most cases, Medicaid will pay 100% of the cost of nursing home care. Nursing homes, unlike assisted living communities, do not line item their billings. The cost of care, room, meals, and medical supplies are all included in the daily rate.
How do you protect assets from Medicaid spend down?
5 Ways To Protect Your Money from Medicaid
- Asset protection trust. Asset protection trusts are set up to protect your wealth.
- Income trusts. When you apply for Medicaid, there is a strict limit on your income.
- Promissory notes and private annuities.
- Caregiver Agreement.
- Spousal transfers.
Does Indiana Medicaid have a spend down?
For Indiana residents, 65 years of age and over, who do not meet the Medicaid eligibility requirements in the table above, there are other ways to qualify for Medicaid. However, one can “spend down” assets in order to reach the Medicaid asset limit.
Can nursing homes refuse Medicaid patients?
The nursing home may refuse to accept a Medicaid recipient or may require that a resident pay privately for a certain period of time before applying for Medicaid. If you feel you have been discriminated against by a nursing home, contact your state’s long-term care ombudsman or your attorney.
How do I protect my assets from Medicaid in Indiana?
The key, therefore, to protecting your assets and ensuring that you qualify for Medicaid is to include Medicaid planning in your comprehensive estate plan long before you find yourself in need of help paying your LTC bill.
Do I have to pay back Medicaid if I sell my house?
Once the home is sold and the proceeds come in, the Medicaid recipient must disclose the sale to Medicaid within 10 days as a change of circumstances. In order to keep Medicaid, the sales proceeds must be legally spent or protected by the end of the following month.
How is nursing home care paid for in Indiana?
Nursing home care paid for by Indiana’s Medicaid program is an entitlement. Phrased differently, if an Indiana resident is medically and financially eligible for nursing home care, then the Indiana Medicaid program is required by law to pay for it.
How to apply for Medicaid in Indiana nursing homes?
You can also submit a paper application which you can find on the state website, or get assistance applying here via an attroeny. Medicaid pays for the cost of Nursing Home care in Indiana that meet certain financial and health criteria. The average cost of Skilled Nursing Care in Indiana is $76,656, so securing Medicaid coverage is essential.
Where can I get long term care in Indiana?
With long-term care, services may be provided in a variety of settings, including one’s home, the home of a relative, an adult foster care home, a nursing home, or an assisted living facility. Medicaid for the aged, blind, and disabled in Indiana is also called Hoosier Care Connect or Traditional Medicaid.
How much money can you keep for Medicaid in Indiana?
Individuals in Indiana are allowed to keep $1,500 when they apply to Medicaid for long term care. If they are over this amount, they must spend down on care. It is important to note, that individuals are not allowed to give gifts of any amount for a period of 5 years (60 months) prior to applying to Medicaid.