If you have an Individual Retirement Account (“IRA”) and you are applying for Medicaid there are certain rules and circumstances which affect your IRA. Your IRA cannot be transferred if you are married. The only way to transfer an IRA between a husband and a wife is to have them enter into a separation agreement or get divorced. If you are in an … [Read more...]
Medicaid In New York – Part I
Medicaid was established in 1965 by an act of Congress. Medicaid is designed to deal with healthcare issues for individuals and families who cannot afford healthcare. Individuals applying for medicaid must meet minimum coverage requirements. These requirements are the individual must be under 21 years of age or over 65 years of age or be eligible … [Read more...]
Medicaid in New York – Part II
Look Back Period for Institutionalized Medicaid There is a currently a 60 month (5 year) look back period for obtaining institutional Medicaid benefits. This means that the Medicaid recipient has a five year look back period where he or she may be subject to being a self-payer. Spousal Refusal If the community spouse has assets greater than … [Read more...]
Alzheimer’s Disease: A Horror Faced by Some Seniors
Are you becoming forgetful? Are you having what is commonly referred to as senior moments? Are you wondering are these the first stages of Alzheimer’s disease? Although memory problems can be a sign of the onset of Alzheimer’s disease, that is not always the case. There are other symptoms to the onset of early Alzheimer’s disease. What is … [Read more...]