“The myth and reality of the Medi-Cal ‘spend-down’,” by Philip P. Lindsley, San Diego Union-Tribune
“What’s the reality? The need to ‘spend down’ is almost never true. There are many assets that are considered exempt or unavailable and are not counted in the qualification process. Just two of several examples would be the home and all IRAs and other pension plan funds. There are also other substantial additional allowances and planning opportunities available for those who are aware and use them. Few do.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Few do? Hardly. Most do. Not because most consult Medicaid planners. They don’t, though many do. Rather, Medicaid eligibility workers routinely explain all the asset exemptions and even some of the “loopholes.” After all, they’re social workers; they want to help people, and it’s only government money. Ironically, whether you qualify for Medicaid benefits depends as much on how “caring” your worker is as on the rules and how much wealth you possess.