Page 7 - Jupiter West - March '23
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Jupiter West, Page 7
      Top 10 Long-Term Care Planning Myths

      Submitted by Anné                                  Medicaid. The key is gaining admission to one of the better     If you have questions about your estate plan and what
      Desormier-Cartwright, Esq.                         homes as a Medicare or private pay resident before Medicaid   documents you should have in place to plan your estate,
        1. I can care for my spouse                      ever becomes necessary. If a resident converts to Medicaid   schedule a free consultation today by calling our office at
      indefinitely on my own. All                        following admission, the facility cannot involuntarily discharge   (561) 694-7827, Anné Desormier-Cartwright, Esq., Elder &
      too often a primary caregiver                      the resident or reduce care provided.             Estate Planning Attorneys PA, 480 Maplewood Drive, Suite
      ends up hospitalized or even                         6. I have to be totally indigent before I can get help from   3, Jupiter, FL 33458.
      predeceasing the unhealthy                         Medicaid. Medicaid allows recipients to own assets of great     The content of this article is general and should not be relied
      spouse because he or she failed                    value so long as those assets are considered exempt under the   upon without review of your specific circumstances by competent
      to acknowledge the limits of                       eligibility rules. In addition to exempt property, a married couple   legal counsel. Reliance on the information herein is at your
      his or her ability to provide                      can own nonexempt property valued as high as $148,620.   own risk, as it expresses no opinion by the firm on your specific
      24/7 care. It is imperative                        Nonexempt property for a single person is limited to $2,000.  circumstances or legal needs. An attorney client relationship is
      that all involved recognize an                       7. I must sell my home to pay for private nursing care.   not created through the information provided herein.
      illness impacts both spouses. In the end, keeping an unhealthy   Your home is the most sacred asset in the Medicaid world with     To comply with the U.S. Treasury regulations, we must
      spouse at home can do more harm than good sometimes.  equity of $688,000 being exempt when eligibility is determined.   inform you that (i) any U.S. federal tax advice contained in this
        2. Medicare and Medicaid are terms to be used    So long as your equity is at or below this amount, ownership of   newsletter was not intended or written to be used, and cannot
      interchangeably. Eligibility for Medicare is determined based   the home should not complicate Medicaid eligibility. The limit   be used, by any person for the purpose of avoiding U.S. federal
      solely on whether a worker or their spouse paid adequately   does not apply if a spouse still lives in the home.  tax penalties that may be imposed on such person and (ii) each
      during their lifetime. Medicare eligibility does not depend on     8. I would never qualify for Medicaid because my assets   taxpayer should seek advice from their tax advisor based on the
      assets or income. On the other hand, eligibility for Medicaid is   are too great. Even if your nonexempt assets are currently   taxpayer’s particular circumstances.
      determined based upon the assets and income of the applicant.   over the resource limit, it is often possible to achieve eligibility
      Whereas the rules governing Medicare eligibility are identical   before exhaustion of savings with the help of a qualified attorney.
      in all states, the rules governing eligibility for Medicaid differ   Although planning for eligibility can take five years in other   Medicare
      depending on the state.                            states, eligibility in Florida can usually be achieved much more
        3. Medicare will pay for a nursing home if I ever need   efficiently using crisis planning techniques.
      one. Medicare will pay for just 20 days in full following a     9. Medicaid planning primarily involves giving all my
      hospitalization. It can potentially assist for an additional 80   property to my children. Due to changes affecting how
      days, but only after the resident covers a daily co-payment of   Medicaid penalizes gifts, gifting now plays a smaller role in   open enrollMent
      $133.50. Under no scenario will Medicare provide assistance   Medicaid planning. While careful gifting can still be helpful,
      with long-term care beyond 100 days.               Medicaid planning in Florida has never really focused on gifting.
        4. Medicaid will cover home health care and assisted   Rather, Medicaid planning really focuses on the process of
      living care. Although there are limited Medicaid programs   reinvesting savings in assets that Medicaid considers exempt.
      designed to help with home health care or assisted living care,     10. The government will take everything from me if I go   for 2023
      these programs are grossly underfunded and maintain long   on Medicaid. Florida has an estate recovery program whereby
      waiting lists. Moreover, under no circumstances will Medicaid   certain sums paid on behalf of a Medicaid recipient will be
      pay for 24/7 home care. For the most part, home health care   recovered from their estate after death only if there is an asset
      and assisted living care must be paid for privately.  that is subject to probate. For estate recovery in Florida, homes   cHecK For
        5. The quality of care will suffer if I go on Medicaid.   are exempt even if owned in another state as long as the recipient
      While it is certainly true that some nursing homes offer better   claimed the home as their residence. IRAs are not subject to estate   eXcItInG
      care than others, virtually every nursing home in Florida accepts   recovery either if there is a person named as the beneficiary.
      38th Anniversary Of ArtiGras 2023                                                                       neW PLanS

      Report and Photos by Penny Sheltz                  was recently named one of the top 70 fine art festivals in            and
        Celebrating 38 years, ArtiGras Fine Arts Festival   the country and showcases a juried exhibition of gallery-
      has grown from a small, local art show to a nationally   quality art from 280 artists. ArtiGras also features live
      recognized fine arts festival attracting tens of thousands   entertainment and much more!                    aLL neW
      of art lovers and collectors. ArtiGras was held in February     ArtiGras benefits local charities and is produced by
      2023 in Palm Beach Gardens.                        the professional staff of The Palm Beach North Chamber
        Produced by the Palm Beach North Chamber of      of Commerce with more than 800 volunteers.              BeneFItS
      Commerce and presented by Hanley Foundation, ArtiGras
                                                                                                                         YoU are

                                                                                                                   entItLed to


                                                                                                                      maY cHanGe PLanS
      Artist Ellen Negley               Artist April Davis               Artist Sarah La Pierre                JanUarY 1 tHrU marcH 31, 2023
                                                                                                                   caLL WItH QUeStIonS

                                                                                                               Peter Gratzon

                                                                                                                   toP IndePendent

                                                                                                                    medIcare aGent


                                                                                                                  c: 561-289-9396

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