Attorney-CPA Joe Cordell and co-host Susan Arthur continue their ongoing discussion regarding Medicaid. They discuss how Medicare, as a form of health insurance, is not a method of paying for long-term care. They explain the difference between rehabilitative and custodial care and how Medicare and Medicaid play a factor in paying for care.
Joe explains how many of the facilities that provide care eventually may have to reevaluate whether the care is rehabilitative or not after 100 days and how those who have substantial financial assets can qualify for Medicaid. Joe talks about the importance of choosing a lawyer for a Medicaid issue who has experience in this area.
Joe describes how a snapshot date is the first day of the first continuous 30-day period of hospitalization or institutionalization and how that date can define what assets are available to the community spouse. Joe also describes the difference between the snapshot date and the application date.