(832) 592-7913
Texas Nursing Home Medicaid Mistakes You Can’t Afford to Make
Any 1 Of These Mistakes Can Cost You $5,000 or More.
Mishandling Money
Losing A Spouse’s Money
Losing $172 a day Waiting
Mishandling Money
You have to be careful once you’re in the 5 year lookback period. The HHSC looks at what went on in your parent’s bank accounts. If they see something they don’t like they can hit your parent with an eligibility penalty.
As a result, any use of funds that is not for fair value (as defined by the HHSC) can cost you a lot of money.
Remember, the HHSC has the final say on this. The burden is on you to prove there is no transfer. Arguments like “my parent wanted me to” or “I’ve always used their money for this” aren’t very persuasive. You need evidence.
In addition, the HHSC expressly prohibits a few specific transactions that many people are caught off guard by. Make sure you aren’t violating that list.
What can you safely spend their money on without creating a penalty? Can you pick out what is allowed and what is not? What can you do with joint accounts? Are tax free gifts safe?
The answers may surprise you.
Not Protecting a Spouse at Home
If your spouse is in a nursing home, and you have more than $26,180 in assets, then you need to know about asset protection. If you don’t find out now, you are going to lose a lot of money that you can’t get back.
Why $26,180?
The minimum guaranteed to the spouse is $24,180. On top of that the Medicaid applicant can have $2,000.
The further north of that number you get the more you are looking at losing. This doesn’t just mean cash. It includes CDs, annuities, some real estate, retirement accounts, cash value life insurance etc.
But you can change that with the right plan. Learn more from a recent client that we got Medicaid approved while keeping $71,000 and cutting the nursing home bill from $4,200 down to $600.
Losing $172/Day Waiting
Every day in a nursing home costs money. Each day they chip away at your life savings a little bit until there is nothing left. The average daily rate in Texas is $172. That’s more than $5,200 every month!
Check out a recent case where a client avoided a $120,000 spend-down and protected over 2/3 of his assets for his children.
Every month you wait is another $5,200 (or more) you lose. Once it’s gone, it’s gone. If you want to protect assets, then the more you start with the better the results.
Get the Remaining 5 Costly Nursing Home MistakesE-mailed To You Instantly
Find Out Now
The Next Step
If You Want to Look Around
Go To Home Page
If You Need Help Right Now
Call (832) 592-7913
Our Successful Clients
I highly recommend his law firm and him. He was able to get my dad approved and believe you me, it was not an easy task but he stayed at it and was able to get him approved.
Lori Montoya
I could not have been happier with The Shea Law firm. Rich Shea helped me obtain nursing home Medicaid for my dad, which I thought was going to be impossible.
Colleen Duewel
More About The Shea Law Firm
The Shea Law Firm is a local law firm based in The Woodlands, Texas. Attorney Richard Shea helps families eliminate out of control nursing home costs by showing them how to qualify for nursing home Medicaid without losing everything they worked their entire lives for. And yes, that even includes situations where you are already in the 5 year lookback period.
Don’t accept the Medicaid spend-down, we can fight it and win.
Take It From People Who’ve Been In Your Shoes
