Medicaid spend down - a viable alternative?

Medicaid spend down – a viable alternative?

Healthcare has been in the news a lot recently. More specifically healthcare insurance with the so-called Obama care legislation started to take effect.

The changes in law are going to have wide reaching effects on just about everybody in America. Whether you have health insurance, don’t have health insurance, want health insurance or anything else, how you get that coverage and how much you pay for it is going to change.

Additionally, there are huge tax implications for whatever your situation might be.

The rising cost of healthcare has forced many people to look at Medicare and Medicaid. Medicare of course is for seniors while Medicaid is for anybody, including seniors.

What many people don’t know is that to get Medicaid benefits there are many different tests you have to pass. Primary among these tests are income tests.

Essentially, if you make too much money then you won’t be eligible for Medicaid.

Enter the Medicaid spend down plan.

By spending down your income, you can make yourself eligible for those Medicaid benefits. Of course, this will depend on your state’s laws and your personal situation.

If this is something that might be appropriate for your situation, you should contact a reputable attorney in the field, like those at www.sustainablesenior.com.