Contact Us for More Info

FAQ about Florida Medicaid for long term care: ICP (Institutional Care Program) or nursing home diversion.

Question: Do I have to sell my home to qualify for Florida Medicaid?

Answer: No, you do not have to sell your home in order to qualify for Medicaid in Florida.  Your home is considered your homestead in Florida if it is your primary residence.  Also, the statement of 'intent to return' from the nursing home resident protects their home from attachment.

Question: Will my home equity make me ineligible for Florida Medicaid?

Answer: When the State of Florida implements the “New Rules” set forth by the Deficit Reduction Act of 2005, there will be a maximum limit imposed: either $500,000 or $750,000 of home equity value will make one ineligible for Medicaid benefits. However, there are strategies for restructuring equity in order to qualify for benefits.

Question: Is Medicaid in Florida the same as in other states?

Answer: There are some similarities and some differences.  It is important to work with a knowledgeable financial planner or elder law attorney who is a Medicaid specialist and is familiar with the Medicaid rules in Florida and in other states.

Question: What should I expect from my Medicaid Planner?

Answer: A free consultation, sometimes more than once; expertise from years of working with DCF; representation at the Medicaid office for you; fee should be known before hiring your planner.

Question: Is it necessary to have an elder law attorney for Medicaid planning?

Answer: It is not necessary to have an elder law attorney do your Medicaid planning.  You do need a person who knows Medicaid policy and understands the Medicaid application process.  The Medicaid Coordinator at Platinum Financial Planning, Inc. is Melissa Hobkirk, who has 18 years experience working in Medicaid for DCF and 6 years working with Certified Financial Planner Antony L. Turbeville of Platinum Financial Planning.  A competent attorney is available to assist with any legal paperwork that also needs to be done.

Question: If I gave away something 2 years ago, am I ineligible for Medicaid now?

Answer: One may become ineligible for Medicaid because of giving something away in the last 5 years. There are several variables to consider such as how much was given, when it was given and if a trust was involved.

Question: If my husband has to go into the nursing home, how will I be able to live on just my Social Security income which is rather small?

Answer: Medicaid has a formula to determine the amount needed to be diverted from the 'nursing home spouse's' income to the 'community spouse' in order to allow the community spouse to continue living in their own home. This is the Minimum Monthly Maintenance Income Allowance, which provides the community spouse an income of at least $1650 per month, including receiving money from the nursing home spouse’s income, if needed. Excess diversion funding is available up to $2,548 monthly, if housing costs exceed $498 per month.

Question: What if someone in a nursing home wants to gift money to a family member?

Answer: Depending on a person's specific, individual circumstances and the timing of the gift, it may be possible to give some money to a family member without causing Medicaid ineligibility. Call us to see if this is appropriate for your situation.

Question: Does Medicaid look at assets or income for the person who is going into the nursing home?

Answer: Medicaid looks at the assets and income of the individual going into the nursing home.  If a person is married, the income of each person is evaluated separately but their assets are evaluated as joint assets.  Please look at the chart under the Medicaid ICP section on this website.

Question: What are the current income and asset limits for a person to qualify for long term care benefits in a nursing home or the nursing home diversion program?

Answer:

Income:

• Individual needing care: $1,869 month (unless an income trust is used)
• Community spouse (the one remaining at home): Unlimited income
• Couple, if both need care: $3,738 month
• Note: The individual needing care is allowed to keep $35 each month for personal needs.

Assets:

• Individual needing care: $2,000
• Community spouse: $101,640
• Couple, if both need care: $3,000

Question: How can I learn more about the services of a Medicaid planner for my own situation?

Answer: During a free consultation, Platinum Financial Planning can help you identify areas of concern and create a plan to help you qualify for Medicaid properly. Contact Antony L. Turbeville, CFP, Platinum Financial Planning, Inc. at 1-800-582-1934 or 863-687-3679 or www.platinumfinancialplanning.com.