Avoid Being Denied Medicaid Due to Improper Transfers
Improper Transfers Can Cause Your Loved One to Be Denied Medicaid
Are you a caregiver to an aging parent or grandparent? Have you quit your job in order to help care for a relative? Are you being paid for caring for an elder? If you answered 'yes' to any of these questions you need to continue reading.
Federal Medicaid law looks back five (5) years at transfers of assets from a Medicaid applicant to a person other than their spouse. Those transfers of assets can result in a delay in Medicaid approval. What this means to you is that being paid as a caregiver can cause a Medicaid denial if you and the elder do not have a written personal service agreement. A personal service agreement details:
- the services being provided by the caregiver to the elder;
- the amount of time spent each month providing each type of service;
- the hourly rate of payment for each type of service calculated over the actuarial life expectancy of the elder; and
- other important terms.
In order for the Medicaid agency to accept a personal service agreement as a legitimate transaction the right set of facts must exist in your working relationship with the elder and it must be properly documented. The Florida Department of Children & Families is closely scrutinizing personal service agreements so don't leave your relative's future long-term care plan to chance. Consult with me a Board Certified Elder Law Attorney so that you can create peace of mind for your family.
Join me for my monthly public tele-seminar on important aging issues and legal solutions. Visit my website or call our office at 954-382-1997 for the date, time, and dial in. It's FREE.
We Want to Be Your Trusted Advisor Through Life.