More On Divestment

The divestment penalty period (time individual is deemed not eligible for Medicaid) is calculated by deviding the amount given away by the average daily (209.00)  nursing home cost.  So if you transferred 30 thousand and devided that by 209.00 the person would not be eligible for medicaid for about 143 days.  Which is about 4 months time.

Wisconsin does have an estate recovery program that seeks to reclaim money through identified assets of medicaid receivers.  This is done with leins against property, claims against an estate, affidavids of transfer, and voluntary recovery. 

Assets deemed exempt for divestment can be bit complicated.  Burial assets and a motor vehicle seem exempt.  The home can be exempt if the senior is intending to return home. 

There is some question as to whether a home is counted for divestment if it is transferred to :
-the medicaid applicants spouse
-a disabled child who resides in the home
-a sibling with ownership interest who has resided in the home for at least 12 months
-a care taker child who lives in the home and has helped delay the admission to a nursing home by about 2 years.

Family's are encouraged to contact a legal firm specializing in elder law to determine a responsible strategy for retaining household assets. 

Home Care Path www.homecarepath.com is a leading senior care provider serving south central Wisconsin.  Services include:
-in home staffing with help for ADL's and IADL's
-inpatient advocacy for safe successful hospital stays
-transitional counseling when a more sturctured service is needed
-temporary help with a scheduled day surgery
-down sizing home contents when stuff matters
-communicating face to face on the computer across long distances
Simply call 608-432-4286 to schedule an in home interview.  We accept long term care insurance.  2012 rates are 20.00 per hour.  Email lkutzke@homecarepath.onmicrosoft.com We can be there when you are working.  Services are tax deductible.  Valuing home and human life.