Medicaid Myths



The Average Private Pay Cost of a Nursing Home is
Over $7,000 PER MONTH


Here are several MYTHS about Medicaid:


Myth: You must "spend down"(or use up) all of your money and be broke before you can qualify for Medicaid.

Fact: There are many ways to protect your assets and still qualify for Medicaid.


Myth: Once you are in a nursing home and paying privately you cannot protect your assets.

Fact:  This is simply not true. You can always try and protect your money.


Myth:  Due to recent laws you can not  protect assets by using Medicaid Planning.

Fact: Not true. Experienced Elder Law attorneys are helping seniors protect assets every day.


Myth: Medicare will cover nursing home costs.

Fact: Medicare ONLY covers Hospitalization and doctors (and very limited nursing home care).


Myth: The State of Illinois will take your home if you  go on Medicaid.

Fact: A married spouse can keep the home he/she lives in and still qualify the spouse in the nursing home for Medicaid. A single person will also not have the house taken from him/her. However, the state may be able to put a lien on the home. This will depend on what type of pre planning was done.


Myth: You can only give away $13,000 per year.

Fact: The $13,000 figure is a gift tax rule, it has nothing to do with Medicaid planning.


The Truth about Medicaid and Medicaid Planning.


The truth is that you CAN keep 70-100% of your assets and avoid spending all of your money on care and still qualify for Medicaid. This is especially so if you are married and a spouse is in (or should be in) a nursing home. Remember that Medicare only covers hospitalization and doctors. Medicare does not pay for long-term custodial care.


Medicaid Planning.

According to the American Institute of Certified Public Accountants: "Through Medicaid Planning you can rearrange your finances so that countable assets are exchanged for exempt assets"




Do you need assistance in qualifying for
Medicaid in Illinois?


We can help. Mr Kanter is an attorney specializing in Elder Law,
particularly IL Medicaid qualification and estate planning.


Call him personally at 847-674-6470
or use the contact form






Medicaid Myths | Illinois Medicaid Attorney William Kanter | Nursing Home Costs in Illinois