A big concern among people moving into nursing homes is that they’ll lose their homes as they try to qualify for Medicaid.
It’s something we hear all the time in the world of Doylestown, and other Bucks County areas in Medicaid planning, and it’s understandable that you might have this fear. No one likes the thought of the government or some giant nursing home chain swooping down to seize your house.
However, this fear is based on a misconception that potential nursing home residents have to automatically divest themselves of their homes in order to qualify for Medicaid.
In Pennsylvania, your home isn’t considered a countable resource by Medicaid if you plan to return to it after your nursing home stay.
You can also gift your home to certain people close to you and still qualify for Medicaid.
Under the law, if you gift resources to others within five years of applying to Medicaid, you will be subject to the program’s look-back penalty, which will make you ineligible for coverage for a certain amount of time, depending on the value of the gift.
But you can gift your home to the following people and still get Medicaid coverage:
- Your spouse
- A child who is under 21, blind, or permanently and totally disabled
- A sibling who lived in your home during the year before you entered the nursing home and who holds an equity interest in the house
- A “caregiver” child, who is one of your children who lived with you for at least two years before you entered the nursing home, and who provided you with medical care that precluded you from needing the nursing home.
With some advanced Medicaid planning, Doylestown and other Bucks County area residents can protect their homes if they need to go into a nursing facility.
If you have questions about Medicaid planning, Doylestown PA’s Gummer Elder Law has answers. We can work with you and your family to make sure your assets are protected as you seek nursing care. Contact us today to get started.