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Medicaid Presentation De Boer Baumann

Date post:21-Jan-2015
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  • 1. MEDICAID: HOW TO MANAGE THE COST OF STAYING IN A NURSING HOME
    De Boer, Baumann & Company, PLC
    P. Haans Mulder
    Cunningham Dalman, P.C.
    321 Settlers Road
    Holland, MI 49423
    (616) 392-1821
    [email protected]

2. Background
Grew up in Holland
Attorney and Partner at Cunningham Dalman, P.C.
Masters in Tax, CFP, and specialize in estates/elder law and business planning
Serving the Holland area since 1900
3. Background
Cunningham Dalman, P.C. is located in Holland and has been serving the greater Holland/Zeeland since 1900
We have 14 attorneys specializing in all areas of the law
Serving the Holland area since 1900
4. Overview
Discuss the Medicaid process
Talk about the Medicaid eligibility rules
Provide an example of how Medicaid planning works
Serving the Holland area since 1900
5. What is Medicaid?
State and federal program that pays for medical treatment (including nursing home care)
Oftentimes confused with Medicare

Serving the Holland area since 1900
6. When does Medicaid apply?
Must be in a nursing home or be in certain counties that have the MI Choice Waiver program
Waiver program provides care in a persons home and may cover residential facilities
Serving the Holland area since 1900
7. Who does Medicaid apply to?
Applies to people who are 65 years or older, blind, or disabled
Must satisfy the medical requirements (have level of care assessment done)
Must meet income and asset tests
Serving the Holland area since 1900
8. Who does Medicaid apply to?
You cannot have enough income to pay the monthly cost of staying in a nursing home ($6-7,000 in this area)
Cannot earn more than $2,022/month for the MI Choice Waiver program
Serving the Holland area since 1900
9. Who does Medicaid apply to?
Asset test requires that a single person cannot have more than $2,000 in countable assets
Can keep your home (its not in your trust) and a vehicle
Serving the Holland area since 1900
10. Who does Medicaid apply to?
Asset test allows a married couple to keep their home (again, if its not in a trust), a vehicle, and one-half of their other assets
Serving the Holland area since 1900
11. Where do you apply?
Apply for Medicaid at the Department of Human Services (DHS)
DHS offices are located in each county
Apply to the county office that the nursing home is located

Serving the Holland area since 1900
12. Example
Clients were husband and wife
Drafted an estate plan for them
A couple years later, the wifes health declined significantly and had to go to a nursing home
Serving the Holland area since 1900
13. Example
She didnt stay in a hospital for three days so Medicare didnt cover any of the stay at the nursing home
They had a house, vehicle, and investments
Serving the Holland area since 1900
14. Example
Could keep the house (because it was properly owned) and their vehicle
Without any Medicaid planning, they would have had to spend down one-half of their investments
Serving the Holland area since 1900
15. Example
Drafted a trust that allowed them to protect all of their investments (as opposed to just half)
This provided peace of mind to the husband
Serving the Holland area since 1900
16. Questions
Serving the Holland area since 1900
17. Thank You
P. Haans Mulder
Cunningham Dalman, P.C.
321 Settlers Road
Holland, MI 49423
(616) 392-1821
[email protected]
www.holland-law.com
Serving the Holland area since 1900

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