Medicaid Income Trust
The first step is to take an income test for Medicaid to see if you need a Medicaid Income Trust. We calculate an applicant’s gross monthly income, not the net amount the applicant receives after taxes and Medicare Part B premiums were deducted. Only the applicant’s income counts; a well-spouses income does not.
While each state implements Medicaid guidelines differently, Florida is known as an “Income Cap” state. If an applicant’s gross income exceeds $2,313 per month, they will not pass the income test, nor qualify for Medicaid. However, since 1993, there is now a way to qualify even if the gross income exceeds the cap.
If the Medicaid applicant is over the “income cap,” there is a legal way of becoming eligible, and it ultimately makes no difference in the amount paid to the provider of long term care. Don’t worry; it is not as complicated as it sounds.
Florida Medicaid Eligibility will help you get an attorney for your Medicaid Planning. For years we have been working with attorneys who will help you with this challenge. They will enable you to remain below the income cap.
We will recommend attorneys specialized in Medicaid issues, and we know what they charge. We will get you an attorney who will help you with the legal changes at a fair price. Should you consider hiring a Medicaid Planning attorney, ask them how many applications they were responsible for and how many they had approved last year. Please do not let them avoid this question. Medicaid Eligibility, Inc. is not a law firm and does not practice law.
We will be happy to assist you with a free consultation.