“To plan ahead to protect assets from nursing home costs, you may either buy long-term care insurance or create a Medicaid Assets Protection Trust (MAPT) that protects trusts from nursing home costs after five years. . . . If you’re a single applicant, we have the ‘Gift and Loan’ strategy. . . . If you’re a married applicant, we have some general protections, and then we have ‘Spousal Refusal’ if your assets exceed the general protections.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): See why we need to close Medicaid LTC eligibility loopholes? Plan ahead,
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“Scoring in the LTSS area needs to be based on widely accepted facts (i.e., a fair reading of the literature and/or settled empirical findings), completely transparent (with all major assumptions disclosed and justified), and robust (to consider all types of policy interventions). Scoring should also be alternatively illustrated by conservative results and assumptions, to give a sense of the possible range of outcomes. Unfortunately, despite the great apparent effort of the Urban Institute, their model, as presently constituted, cannot serve this purpose.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is a devastating refutation of
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“Recently, a close family friend emailed me about his long-term care insurance policy, expressing his frustration over yet another premium increase. Despite the rising cost, he still feels good about his decision to have a long-term care insurance policy in place to help protect himself and his family. The discussion brought to my mind one of the most powerful and iconic scenes in children’s literature. I am referring to Willy Wonka and The Chocolate Factory . . ..” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): If you wonder where the author goes with that allusion,
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