Medicaid is the federal program that pays for specific nursing home expenses when a patient’s assets are depleted and they can no longer afford to pay for their care. However, with the aging population and skyrocketing health care claims, Medicaid has cost more than Congress ever anticipated, and they want to recover their expenses. Consequently, the states that administer the program must make an effort to recover the money spent. And the families of individuals who have benefited from Medicaid may find the government knocking on their doors looking to recover its money. At the very least, a claim could be filed against the estate.
Each state can use whatever means its legislature declares appropriate to collect the money owed. And some have become very aggressive. For instance at least one state can now put a lien on a surviving spouse’s home that was owned jointly with a deceased Medicaid recipient. When the survivor dies (or sells the home), the state would take its share of the proceeds first.
In addition, the same state can immediately go after the life insurance proceeds that were intended to benefit a surviving spouse. And to assure that decedents’ debts are paid, insurance companies must notify the state before death benefits are sent to the beneficiaries.
What are the chances that the government will dig out from its budget problems and ease up on chasing after Medicaid money? Nobody can predict this. Therefore, you need to explore how to provide the money that you may need for long-term care expenses so that your bills don’t come back and haunt your family.
There’s a good possibility that I can come up with a long-term care insurance plan that will meet your budget and future needs. All you have to do is include your age on the enclosed coupon and drop it in the mail. Then I will send you a free illustration based on the long-term costs in our community.
