Louisiana Medicaid Eligibility and Debt

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Louisiana Medicaid Eligibility and Debt Video Clips. Duration : 1.72 Mins.

We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from updated blog post Medicaid Eligibility . As many of you know, when qualifying for Medicaid if you ever go into a nursing home, Medicaid looks at the total amount of assets that you have. One thing that confuses people is they don't look at the amount of debt that they have when they go into a nursing home. I was meeting with a family yesterday and Mom was about to go into the nursing home in the next few days or weeks. They were concerned because they had over 0000 of financial assets, which is over the 9000 figure when you have one spouse in a nursing home and one spouse who stays at home, that she wasn't going to qualify for Medicaid and they were going to have to pay for that 00 a month nursing home cost out of their pockets. They realized that they owe 5000 on a reverse mortgage on their home. So what they can do is just take part of their financial assets and pay off the 5000 reverse mortgage then on the next day they'd have 5000 of countable resources under the 9000 figure. Mom would qualify for Medicaid immediately. Be aware that Medicaid disregards debt and the asset valuation. They don't look at net worth; they just look at your assets.

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