Long-Term Care, the 5 year look back & Medicaid – Things may have changed for your children

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.


According to the U.S. Department of Health and Human Services, Medicaid, since 1965, has given the states permission to impose liens on property in the estates of deceased Medicaid recipients in order to recover the expenses.

This permission has come with the caveat that each state has the option of how they would like to recover those assets and at what time they would like to start the recovery process as well, but back in 1993 things changed a little bit more with the Estate Recovery Mandate.

With the creation of this mandate each state, under rule of the Act, now has an obligation to try to recover the costs relating to any:

  • Nursing Care or LTC facilities
  • Expenses accruing for medical services while residing in a nursing facility
  • Other items that were covered by the Medicaid Plan.


Again, each state still, even today, has the option of how and when they will go about implementing the recovery process and for some states, at least 29 of them, they have figured out how to get around that aged old advice of hiding assets to qualify for care that you have been told about.

How? Welcome to the Filial Support Laws that have been enacted by 29 states, under this law each state that has implemented it, now has the ability to try to recover the expenses of Medicaid from the children of the recipients of care.

Think it can happen? Think again.

John Pittas of Pennsylvania was personally hit with a bill for over $93,000 for his mother’s Medicaid expenses even though he also had other siblings that could help pay the debt. The reason why he was singled out: again, the states have the options of how and when they will implement this Estate Recovery Mandate.

So, still not planning for Long-Term Care, your financial advisor still telling you to just self fund or are you still thinking that you can just trust away the problem? Again, THINK AGAIN.

The loopholes are being covered and the people that will be affected by this will be your children. With 76 million people heading to retirement, the burden to tend to their care will be increased to levels we as a Nation have never experienced, how are we going to fund this?

For some states, those 29 with Filial Support Laws, they have figured it out: pass the bill on to the next generation, which may just happen to be your own children and for those other states who have yet to implement this law, well, the rules will probably change there too.

The real frustration around this whole subject is not the burdensome cost, or the unhappy conversation about the subject matter or even the lack of attention being paid to it, it just happens to be the simple fact that, for those that have studied this problem, is how simple the solution for this “crisis” really is.

Planning to cover this expense along with all of the other costs associated with your health can be addressed with very little heavy lifting, in fact it has never been easier.

Thanks to new financial products and investments there are now multiple ways to solve this issue, everything from using the leverage of specific types Life Insurance or certain Annuities that have riders along with them, to hybrid products from firms like Lincoln Financial, One America and Pacific Life and even certain investments, though not guaranteed can be used to help offset this cost.

All that one really needs to do is work with a financial professional who understands how ALL healthcare costs will impact a financial plan and then implement the strategy. After that, this issue of LTC along with the other costs associated with your health will be taken care of.

The only real hard part of all of  this …….finding a financial professional who understands how YOUR HEALTH will impact YOUR FAMILY.

Tags: , , , , , , , , , , , , ,

Related posts

That Traditional 401(k) is bad for your health

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Impact of Medicare’s IRMAA. Not all income is created equal

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Tax Deferral Today Equals 3 Taxes Tomorrow

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

2019 Medicare Board of Trustees Report

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

You need an Annuity: the reason federal regulations

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

You may be better off smoking than investing into a Traditional IRA or 401(k)

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Retiree healthcare costs = $360,000

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Ken Fisher is wrong about Annuities – federal regulations are the reason

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

4 conversations that must take place with your financial advisor

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Income in retirement is not what you think when your health is on the line

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

US News – 6 Ways to Protect Your Pocketbook From Sky-High Medical Bills

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Looking at Reverse Mortgages? You may want to

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

CNBC Feature – Medical costs take big bite out of Social Security benefits

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Financial Advisor Magazine – Social Security Is Not Going Broke

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

CNBC “Are health-care costs really ‘just’ $245K in retirement?”

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Medicare’s 51.8% Part B premium will crush every state’s budget

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Another Debt Crisis could mean more to the U.S. Postal Service and Retirees

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Immigration…Can it and should it last?

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Sex changes in prisons, not the only high health costs tax payers will face

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

And the Regulations will be Televised

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Is it misinformation or something more sinister?

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

The Debt Crists: what it really means

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Money for nothing and your healthcare for free…I want my subsidies

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Women, Retirement and Long Term Care

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

That Traditional 401(k) is bad for your health

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Another way to look at Amnesty that may impact your health care in retirement

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

4 reasons why you need life insurance that no financial firm will tell you

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

5 Reasons why you need an Annuity that the Motley Fool will never tell you

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Predicting health care costs???

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Women in Nursing Homes there can be choices

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Merrill Lynch survey – top retirement concern is health care costs

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Death Panels – it looks like they are back

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Interview with Scott Halliwell of USAA

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Health Care Costs in Retirement, how much are they going to be really?

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Where health costs may be headed

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Social Security Planning may be hazardous to your health

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Life Insurance firms selling at Wal-Mart????

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

401(k): Which should you pick Traditional or Roth? You will be surprised

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Planning for Social Security? Don’t forget about the Government guidelines

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Your retirement savings may just already be nationalized by the government

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

The rules of retirement have changed and what you don’t know will hurt you!

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

February 2018: A possible wake-up call for financial planning.

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

The forgotten 3rd Guarantee in life to death & taxes – health costs

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Webinar – Do We Really Know What Retirement Is?

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

President Obama’s myRA. A brilliant idea.

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Financial Planning maybe flawed when considering the hard truths

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

The impact of your healthcare on your Social Security

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Is Social Security going broke…probably not and you can thank a Baby Boomer

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Fidelity Investments’ $220,000 Healthcare Number, is it right

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

I saw this on NBC News last night…a Fair warning about Medicare

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

H&R Block “Get your Billion back” is missing the larger lost opportunity: The Medical Expense Deduction or $100 Billion lost

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Rising interest rates and your state & local governments

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Planning for your parents retirement…you should be!

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Why Health Insurers are canceling health plans due to Obamacare

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Divorce Settlements and Medicare – by Robert Klein

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Something your financial advisor won’t tell you: your Social Security benefit will be lower than you think.

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

California driver’s license for illegal immigrants = health costs

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Medical Expense Deduction: “The lost opportunity in retirement”

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Mind Share: How Fidelity created it by marketing to its own competition

Those that have followed or are planning on following the age old advice of hiding assets along with income to qualify for Medicaid in order to receive “free Long-Term Care” may want to sit down and read the fine print to the actual rules of Medicaid.

Things have surprisingly changed and what you don’t know will not only hurt you, but also others or more specifically your children.

Leave a Comment

Leave a Reply

Your email address will not be published.




Top