Update to: A
Will Is Not Enough In Arizona
CHAPTER 9: COST OF LONG TERM CARE
The 2006 figures for a stay in a skilled nursing
facility (i.e., a nursing home) under the Original Medicare Plan are as
follows:
You pay nothing for the first 20 days of skilled
nursing care and $119 for days 21-100; i.e., you pay up to $9,520 for
the next 80 days of a stay in a skilled nursing facility.
You are responsible for all costs thereafter.
The 2007 Medicare value for a stay in a
skilled nursing facility for days 21 through 100 is $124 per day
In 2008, those on the original Medicare plan
will pay:
$128 per day for days 21-100 in a skilled
nursing facility for each benefit period. This is $4 higher than the 2007
value.
CHAPTER 10: MEDICAID UPDATE -
CHANGES MADE IN 2007
The maximum Community Spouse Resource Allowance is $101,640.
The Minimum Community Spouse Resource Allowance is $20,328.
Community Spouse Excess Shelter Allowance is $299.
Community Spouse MAXIMUM Monthly Maintenance Needs Allowance is
$2,541.
The Community Spouse MINIMUM Monthly Maintenance Needs Allowance is
@$1650.
The 2007 private pay rate to determine the penalty period of
ineligibility is as follows:
MARICOPA, PIMA & PINAL COUNTIES is $4781.99
ALL OTHER COUNTIES is $4445.
As of Feb, 2007, the Arizona legislature has opted for
the $500,000 limit homestead equity exemption.
CHANGES MADE BY
CONGRESS IN 2006
Congress passed the following changes to the Medicaid law:
FIVE YEAR LOOK BACK
The Look-back period is extended from three years
to five years. PENALTY
PERIOD STARTS WHEN YOU APPLY
Under the prior Medicaid law the Penalty Period
started from the day the transfer was made. Under the new law the
Penalty Period begins on the day the Applicant applies for Medicaid,
meaning that the Penalty clock doesn’t start ticking till the
Applicant actually applies. For example, if a person makes an
uncompensated transfer during the five year period before he applies
for Medicaid, the Penalty Period will begin as of the day he applies
for Medicaid.
HOMESTEAD WITH EQUITY OF $500,000 OR MORE
If the equity in the Applicant’s home (current
market value less mortgages and liens) is equal to $500,000 or more,
he will not be eligible to receive Medicaid benefits. States are
given the option of increasing this value to $750,000 or more.
UP TO $75,000 IN REAL PROPERTY CAN BE
TRANSFERRED BY AFFIDAVIT A
beneficiary may transfer real property transferred to his name
by filing an Affidavit with the Registrar in the county where
the property is located - provided the value on all the
decedent's real property does not exceed $75,000. Transferring
personal property by Affidavit remains at 50,000. (ARS 14-3971)
These changes need to be adopted by the states,
so it may take several months before these laws are put into effect.
Check with an Elder Law attorney to determine the status of the
Medi caid law in Arizona.
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