Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on Medicaid, how to qualify for Medicaid, as well as the important dates involving Medicaid. Joe breaks down the form that is used in the division of assets involved in the Medicaid qualification process, as well as the importance of coming prepared with all of your records and established values.
Joe cautions against cutting corners in this process, detailing how the applications process comes under penalty and could result in criminal prosecution if done incorrectly. He talks about the snapshot date and how the community spouse has a range of value of assets that they can keep, in order to stay qualified for Medicaid.
Joe explains the Name on the Check rule, as well as what minimum monthly maintenance is. He offers several examples involving real life issues that can affect Medicaid and the assets available to the community spouse. He also details the economics of the Medicaid industry regarding facilities and beds for those in need of long-term care.