by Jane Runge
Denver’s 16th Annual Senior Law Day will be held on July 19 from 8:30 am until 1:30 pm at the Denver Mart. Senior Law Day is a day filled with helpful hints of how to maneuver many legal issues for Seniors.
Many professionals share their expertise on things such as how to avoid probate court, advance directives, prevention of fraud and scams, end of life planning, Medicare and Medicaid information, how to maintain your independence at home, estate planning, veterans benefits, how to choose a nursing home or assisted living facility, and how social security works. If you missed the Jefferson County Senior Law Day on June 7th, you can still plan to attend Denver’s Senior Law Day on Saturday July 19.
Claire E. Dineen and Kathleen A. Negri, attorney’s at law, will give a workshop on 2014 Medicaid Updates. Medicaid is a medical assistance program funded and administered by the federal and state government. To be eligible for Medicaid you must meet income and resource tests. Medicare is a federal health insurance program for those over the age of 65 and/or disabled. Medicare does not depend on income and resources. To be eligible for Medicaid an individual’s income cannot exceed $2,163 for the year of 2014. If it exceeds and you need nursing home care you can establish an “income trust.”
There are certain resources that are exempt from applying for Medicaid. A home that does not exceed $543,000; household goods and personal effects with a value of $2,000; one wedding and engagement ring and any items required for a physical condition such as a wheelchair; one vehicle; value of any burial space; if the burial is not irrevocable a burial plan of $1,500; life insurance plan with a cash surrender value of $1,500; cash or other resources with a total of not exceeding $2,000; property owned with another individual if the co-owner is using principal place of residence and would be forced to move if property were sold; property that can not be sold for two-thirds of actual value.
If you are married there is a “spousal protection” rule which allows the spouse who is not applying for Medicaid to retain between $1,939 and $2,931 of the couple’s monthly income plus extraordinary expenses such as health insurance premiums, long term care insurance premiums and other things. The community spouse can also retain resources of $117,240.
If you want to apply for Medicaid you need to get a Medicaid application from the County Department of Social or Human Services. When you get the application you need to be prepared to have the following documents, proof of income, proof of age and identity, bank statements and other financial records, annuity contracts, life insurance policies, proof of ownership of real property and vehicles, and Medicare and Social Security cards. The application can seem overwhelming and an elder law attorney can assist you in preparing the form or a social worker at a nursing home or a case manager at the county.