Wisconsin defines divestment as giving away income, assets, and property for less than fair market value in order to qualify for medicaid. Divestment is important if the senior is entering a nursing home, or seeking the service of government funded health program like The Wisconsin Partnership Program, The Family Care Program, or other Waiver programming.
When the senior applies for medicaid and has transferred assets in the last 3 years, a divestment penalty period is calculated. The formula for calculating the divestment period requires the following information.
-Value of the transferred resources
-Date the transfer of the assets occurred
-Date of applying for Medicaid or admission to nursing facility
-Current average monthly nursing home rate
Say the senior transferred 24 thousand dollars in cash over to an adult child on January 18, 2012 and was admitted to the local nursing home on Feb. 2, 2012. The months of the divestment penalty period are calculated by deviding the divested amount (24 thousand) by the current average monthly nursing home rate (6300.00) which would be about 3.8. The senior would not be elgible to enroll in medicaid for institutional care for approximately 3.8 months.
Home Care Path www.homecarepath.com encourages seniors to consult with a county benefit specialist for help determining eligibility to the State Medicaid services.
Home Care Path is a leading senior care provider serving south central Wisconsin. Services include:
- in home staffing for elders and help with ADL's and IADL's
-inpatient advocacy for safe successful hospital stays
-transitional counseling when a more structured 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. 2012 rates are 20.00 per hour. We accept long term care insurance. Email lkutzke@homecarepath.onmicrosoft.com We can be there when you are working. Services are tax deductible. Valuing home and human life.
Subscribe to:
Post Comments (Atom)
I was a victim of weak erection and premature ejaculation,for the
ReplyDeletepast 4 years,and for this past 4 years my life was horrible,one day i saw a
post of a man being cured by a Doctor, called Dr Imoloa,so i contact him
and i get the cure from him,and my 4 years disaster and pains were like a
dreams so if you have this problem of weak erection and premature
ejaculation he also have cure for lupus disease, corneal ulcer, polio disease,
Parkinson's disease, Alzheimer's disease, cystic fibrosis, epilepsy,joint pain,
fetal alcohol spectrum, schizophrenia, lichen planus, cancer, diabetes, asthma syphilis, and many more... you can contact Dr Imoloa for help,Email drimolaherbalmademedicine@gmail.com / whatssapp +2347081986098.
-