FLORIDA MEDICAID PROGRAMS
The State of Florida offers Medicaid benefits to the Elderly. They are not programs just for the poor or indigent, but for ALL taxpayers that understand the qualification rules.
Medicaid Diversion Program
This state program will provide Medicaid benefits to the elderly at home or pay for part of the Assisted Living facility monthly costs.
Florida Medicaid Instituionalized Progarm (ICP)
This state program, commonly referred to as The Nursing Home Medicaid Program, provides coverage for most of the costs of nursing home care for qualified individuals.The applicant must meet certain medical and financial criteria. The financial requirements are based on the "income cap" and "asset test" and are different for single people and for married people.
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To review the current Medicaid programs.
Qualifying for Medicaid will result in saving thousands of dollars yearly for the individual and/or the family, if done properly. Let us handle the Medicaid Application process and eliminate delays or disqualifications!
MEDICAID QUALIFYING GUIDELINES //
If your loved one needs nursing home care but can’t afford to pay over $7,000 a month, he or she must apply for Nursing Home Medicaid.
To qualify for Florida Medicaid all applicants must meet the following criteria:
Be a Florida resident and U.S. citizen or a qualified alien.
Be 65 years of age, blind or disabled.
Meet the medical requirements as determined by the Department of Elder Affairs.
The applicant must reside 30 days or more in a Medicaid certified facility.
The applicant must meet the Income and Asset limits.
INCOME LIMIT //
Florida has an "Income Cap" guideline. If the applicant’s monthly GROSS income exceeds the income cap limit, then the applicant will require the creation and funding of a Qualified Income Trust account for the month of eligibility. Without this Trust in place, the applicant will never qualify for Medicaid.
The Qualified Income Trust is a legal document that must be drafted by an attorney.
The community spouse’s income is excluded and can be unlimited. This creates an excellent avenue for Medicaid planning. Furthermore, if the community spouse makes under a certain limit, he or she may qualify for income diversion from the applicant.
ASSET LIMIT //
The applicant cannot have more than $2000 in his/her name in the month of eligibility. He or she is allowed to keep the "homestead" property, one vehicle and all qualified income producing assets.
If there is a spouse remaining in the community, he/she is allowed a designated amount of assets in his/her name, the home, one vehicle and an unlimited amount of "exempt" assets.
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Copyright 2013 Elder Care Planning of Florida
The information obtained at this website is not intended to be used as legal advice.