Long Term Care Medicaid
Long Term Care Medicaid
Medicaid – Nursing home Medicaid is different from any Medicaid assistance your loved one may have in the community.
Medicaid applications are lengthy and will require an in-depth five-year financial review or “lookback” in most cases. This means they will inspect your finances for the past five years and ask questions or explanations about any large sums of money you have received.
Items Required for
Long Term Care Medicaid
Financial Account Statements
Most recent monthly or quarterly statements from all the applicant’s financial accounts including all bank, investments, IRAs, 401Ks and / or annuities. In addition, 5 years of year-end bank statements for each account. Learn about 5 year lookback.
Social Security Administration Letter
Letter from the Social Security Administration that shows the amount of gross Social Security income & deductions the applicant receives.
Income Verification Letter(s) or Tax Forms
Income verification letters or tax forms that document all income streams including: wages, pensions, royalties and / or interest. These comes from the payer of the income.
Proof of Health Insurance Coverage and Costs
Recent statement showing the amount of the health insurance premiums and documents which evidence the types and amounts of coverage such as Medicare, Part D and Supplemental Insurance.
Family Trust Documents
List of the items and assets in the trust and beneficiaries.
Proof of Life Insurance Assignment
If relevant and lists beneficiaries.
Durable Power of Attorney
If a POA exists and letter of incompetency if POA is springing.
Funeral Trust Document
If relevant and lists beneficiaries.