What is Medicaid Estate Recovery?
The Federal Government, insists that states ie Maryland, are required, following the death of the Medicaid recipient, to recover, from the estate, whatever benefits it paid for the recipient's care.
What does this mean?
If you receive funds from Medicaid, to help pay the approximately, $9,000 per month, nursing home cost or if you are in the Medicaid Waiver program, ie staying at home but receiving help, and you own a home, farm or other property, then the government can and will take your property.
Your residence or property is usually, the only assets that you have, when you are on Medicaid. To qualify for Medicaid, in Maryland, as a single person, you must have assets, less than $2,500. The state cannot force you to sell your residence, but they will put a lien on the property, and when you die, the Government will go after your estate. Consequently, you are paying the state monthly, but when you die.
The state recovery program has been referred to as “sucking the last ounce of blood from the corpse.”
Under certain circumstances, Maryland law allows individuals or their spouses to keep their homes and much of their money without becoming ineligible for Medicaid benefits. However, relevant laws are extremely complicated. Therefore, Medicaid and Asset planning should not be attempted without the assistance of an experienced elder law attorney.
To learn more, visit our website at www.seniorlcp.com.asset protection, estate, estate recovery, maryland, medicaid, medicaid planning, Medical Assistance