“Accessing Long Term Care Through Medicaid”

Accessing Long Term Care Through Medicaid,” Advisor Magazine

Quote:

“Even as the country’s primary payer of LTSS, Medicaid LTSS coverage has restrictive eligibility rules, is highly variable by state, and is unfamiliar to the general public. A large number of Americans will become acquainted with the system only when they or a loved one find themselves in need of LTSS. … Because of a lack of alternative and feasible ways to finance the cost of their long-term care needs, many middle-class seniors find themselves forced to spend down, i.e., reduce their net worth so they are eligible for Medicaid, or open LTSS-specific trusts in order to qualify for Medicaid LTSS coverage. This frequently requires strategic planning and/or legal help for those with assets … . Access the full report here.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Give this report credit for acknowledging people routinely “spend down” to Medicaid without self-impoverishing, but rather by reducing their net worth. Besides trusts, there are many other ways to do that without paying for care. Here’s a list. The rest of the report is the usual wishful thinking—we need universal coverage, more HCBS, healthy aging in place. But nothing about how to pay for those dreams and not a word about why the current system is so bad. For that and a real solution, read Medicaid and Long-Term Care.