Question: In Virginia is property owned in an S corporation and or LLC counted as an asset when applying for Medicaid? Response: While I don’t know about Virginia in particular, I [...]

Question: I’m taking a long-term care insurance course. In it there is a discussion of Medicaid asset limits and a list of non-countable assets. It’s reporting that cash value life [...]

Question: If, as seniors, we sell a jointly-owned primary residence and we split the proceeds, will the assets be protected if one of us ends up in a Medicaid nursing home? Response: I’m [...]

Question: Can a whole life insurance policy owned by a current recipient of Medicaid benefits be transferred or borrowed against in order to avoid becoming ineligible for benefits? Response: It [...]

While two-thirds of nursing home residents are covered by Medicaid, at root it is a health care program for the poor. The definition of “poor” has become quite complex in the area of nursing home [...]