Page 7 - Jupiter West - March '23

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

neW!

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

561-361-7173

c: 561-289-9396

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