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What is Medicaid?

What is Medicaid?

Medicaid is a federal-state program. It is the government’s version of long-term care insurance. It is a safety net for those who can’t pay for healthcare.

Seniors can participate in Medicaid if they pass two tests: a medical test, financial test encompassing asset and income limitations.

The medical test requires that a patient needs assistance with 3 activities of daily living such as personal care, eating, maintaining continence, transferring, dressing walking. The asset test places strict limits on how much property a patient and the patient’s spouse can own while benefiting from Medicaid. The income test limits how much individuals and couples may earn to be eligible for Medicaid.

There are ways to get around these eligibility tests if you or a loved one can’t pass them but if you want Medicaid to help pay for the cost of a nursing home stay. However, doing so may require the help of a Medicaid Specialist or Attorney.

Remember, applying for Medicaid is a complicated process and even a small error can mean the program will refuse to help pay for the cost of a nursing home stay. Be sure to speak with an expert if you have concerns.