The Complete Guide to Medicaid and Nursing Home Costs: How to Keep Your Family Assets Protected - Up to Date Medicaid Secrets You Need to Know [Paperback]

Atlantic Publishing Co (Author)

Book Description

Publication Date: April 20, 2008

It is estimated that five out of ten people turning 67 will use a nursing home at some point in their lives and many will need home care and other related services as well About two-thirds of people in nursing homes have no living relatives. And about 70 percent of all nursing home patients are women. Nursing home costs are estimated to be $75,000 in 2009, which would economically devastate most families. The federal government will not be helping either, unless you are without any assets, Medicare will cover you for a maximum of 100 days, but there are no social security benefits to cover any of these expenses. The only program that can assist you is Medicaid, but the catch is you must qualify. You can protect yourself from Medicaid nursing home costs by taking action now while you still have your health; the key is in the planning, which this new, groundbreaking book will assist you with. On February 8, 2006, President Bush signed a law called the Deficit Reduction Act of 2005. This law makes sweeping changes to the ability of seniors to transfer (gift) assets to their children and grandchildren. The information you use must be up to date. You will learn all the LEGAL means to protect your assets: The Federal Spousal Impoverishment Act, Medicaid trusts, including what they are and how to use them, and Medicare supplemental insurance. You also will become knowledgeable about asset protection strategies, annuities, long-term care insurance, wills, assets, settlement costs, executors and trustees, life insurance, living trusts, living wills, durable power of attorney, catastrophic illness, potential long-term care needs, marital deductions, types of trusts, federal and state exemptions, irrevocable life insurance trusts, gift splitting, survivorship deeds, charitable remainder trusts, 529 plans, health care proxies, power of attorney, gift tax issues, generation skipping transfer tax, and tax deferred accounts. In addition, you will learn how to legally and properly transfer assets and how to exempt the value of your principal residence. Through proper planning, much of your assets can be preserved within the family. This new book will guide you through the complex state and federal rules that are required for successful asset and income protection planning. Many books on asset protection indicate that you do not need the services of an attorney, but we highly recommend that you hire an attorney who is well-versed in this area to assist you. What this book will do is explain the complicated issues, terminology, and planning strategies of asset protection to the layperson so that when you meet with a qualified attorney you will be well prepared, versed in the language, and ready to discuss issues and strategies, saving time, legal fees, and ensuring peace of mind. Get started today with the help of this new book.

Product Details

• Paperback: 288 pages
• Publisher: Atlantic Publishing Company (April 20, 2008)
• Language: English
• ISBN-10: 1601381530
• ISBN-13: 978-1601381538
• Product Dimensions: 9 x 6 x 0.7 inches
• Shipping Weight: 8 ounces (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #405,339 in Books (See Top 100 in Books)
  • #41 in Books > Medical Books > Administration & Medicine Economics > Medicaid & Medicare
  • #69 in Books > Medical Books > Nursing > Nursing Home Care

Customer Reviews

Most Helpful Customer Reviews

21 of 22 people found the following review helpful:

1.0 out of 5 stars If monkeys could cut and paste, this is what they'd produce, December 10, 2009

By 

Christoph Berendes (Washington, DC USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: The Complete Guide to Medicaid and Nursing Home Costs: How to Keep Your Family Assets Protected - Up to Date Medicaid Secrets You Need to Know (Paperback)

I'm returning this book. It appears to be put together by someone who had a weekend to cut and paste from other sources and a target for number of pages to fill.

I was misled by the seven previous reviewers -- all from the summer of 2008 - who all rated this book at four or five stars. If you check, you'll find that some of these reviewers have only reviewed a few books, mostly published by Atlantic Publishing, and all rated (by them) at four or five stars. Draw your own conclusions.

Chapter 4, on asset protection, includes a number of pages on advanced directives, living wills, healthcare surrogate designations, and medical powers of attorney, great topics that are irrelevant to asset protection.

Chapter 8, "Creative ways to qualify for Medicaid", begins with two pages of anecdotes on various fraudulent practices. A dubious beginning, particularly as it includes some stories of provider fraud, which is again totally irrelevant to how elderly and their loved ones might qualify for Medicaid.

The book has useful information, but it's buried under obvious or irrelevant information. The index is no help. The only term indexed under F is "Family". When I wanted to refer back to the section on Miller trusts, my choices under M were "Married", "Meals", "Medical coverage", "MMMNA", and "Money".

2 of 2 people found the following review helpful:

1.0 out of 5 stars poor attempt, December 27, 2011

By 

affablemax - See all my reviews

Amazon Verified Purchase

This review is from: The Complete Guide to Medicaid and Nursing Home Costs: How to Keep Your Family Assets Protected - Up to Date Medicaid Secrets You Need to Know (Paperback)

This must have been written by a junior college author. The book is full of generalities ("check with an elder lawyer") and inaccurate statements. Therefore it is totally worthless.

3 of 4 people found the following review helpful:

4.0 out of 5 stars Understanding Medicaid, September 17, 2008

By 

Erica P. Dallas "epdallas" (Memphis, TN) - See all my reviews
(REAL NAME)   

This review is from: The Complete Guide to Medicaid and Nursing Home Costs: How to Keep Your Family Assets Protected - Up to Date Medicaid Secrets You Need to Know (Kindle Edition)

In the United States, health care is increasingly becoming one of the biggest crisis that face families today. Government health care programs such as Medicaid offer limited solutions to low-income families, and the process to get proper care is often met with confusion and challenges. The Complete Guide to Medicaid and Nursing Home Costs addresses such scenarios and gives you valuable information on making levelheaded decisions about consultation and representation, achieving financial stability, and protecting your possessions from being seized.

First, it is imperative that you become more knowledgeable about the Medicaid program to navigate all of the glitches within this system. Also, you will learn how to take accurate estimates of your assets (from properties to finances) to determine what is at risk to Medicaid. Remember that the rules in one state may vary from another state and status (single, married, etc) is taken into heavy account. The state takes a vested interest in various areas of your life once you decide on the Medicaid program. This book suggests that you consider annuities, gifts, wills and deeds as critical components in understanding Medicaid as well.

The Complete Guide to Medicaid and Nursing Home Costs shares with you how to qualify for Medicaid by suggesting that you consider a number of conditions such as inflation protection and nursing home care. Needing care or being a caregiver is indeed a touchy subject that this book also addresses. The contact information of each U.S. state agency is included for direction on getting started. News on Medicaid in each state is incorporated for up-to-date knowledge.

There are policies, rules and regulations for every subject matter in this book, which signifies the seriousness of ensuring that your life's plan benefits the whole family.