FAQs

What Is Asset Spend-Down?     Asset spend-down is the natural process of spending the family s assets for the care of a loved one.  The need for such care is most often sudden and unexpected.     As in the case of the Brown Family: Mr. Brown unexpectedly required custodial care at age 76.  Within 24 months, Mrs. Brown had depleted their entire life savings on Mr. Brown s care, leaving Mrs. Brown with no viable means of financial support. Unfortunately, the Brown s were unaware of the Spousal Impoverishment provision provided by law.  S.I.S. will help you determine the maximum dollar amount that can be protected for your family.

Can I Avoid Asset Spend-Down?     In most cases, yes.  In the case of both married and single individuals, there are other provisions of the law not commonly known or used that can protect your assets from spend-down. Knowledge of these provisions and how to best utilize them for your benefit, can preserve more of your estate.

Can I Qualify For Medicaid?     Eligibility guidelines for Medicaid benefits are set by the Texas Department of Health and Human Services Commission. Your eligibility is determined by your income, the value of your assets, and other personal information; however, when you qualify might be affected by what you do today.  Often the amount of resource preservation is determined by when you start taking action.      Pre-nursing home Medicaid planning, can help you have a greater understanding of the eligibility status of you or your loved one.  A complementary consultation with an S.I.S. associate can result in your qualifying sooner for benefits and avoid needless asset spend-down.

Can I Give Away My Estate?     Many people, in an attempt to avoid spending down their estate on long term care cost, will transfer or gift the bulk of their assets.  This type of transfer will create a waiting period based on a Texas Health and Human Services table that changes annually.  Due to recent new federal legislation, extreme caution is advised to anyone considering these options.

You Have The Right To Participate     People who face a nursing home stay may participate in the Medicaid program if they are eligible.  This is the law.     Theoretically, the right to participate (if eligible) was purchased over their lifetime with payment of their tax dollars.  Those dollars went to fund the Medicaid program as well as all the other government programs.  Others of us are currently purchasing the same right as we pay our tax dollars each year.     In essence, since we all help fund the Medicaid program, we may enjoy the benefits of the program if we enter a nursing home and if we are eligible for benefits. If the guidelines allow you to participate, who has the right to say you cannot?