Saturday, September 6, 2014

Boomer Watch: Long-Term care and Medicaid Planning

A lot of individuals intentionally impoverished themselves to be able to qualify for medicaid, however, for some people, they prefer medicaid planning to protect their assets. Is this procedure ethical and legal? Would you consider it as engaging in fraudulent behavior so you can have the government pay for your long-term care expenses?

We were able to come across this article from another blogger focusing on medicaid planning and its legality: 

"Medicaid is a welfare program originally created to provide health care to our nation’s poor. Due to the lack of any other program, Medicaid has by default become the long-term care insurance of the middle class. With the help of elder law attorneys, those needing long-term care artificially impoverish themselves in order to qualify and preserve their savings either for their healthy spouse or their children. Is this practice illegal?" ....continue reading

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