July 1996
DID YOU KNOW...
...WHAT SOME OF THE REQUIREMENTS ARE TO QUALIFY FOR MEDICAID?
A few of our clients have asked about the
requirements for applying for Medicaid.
Medicaid is a needs-based program that pays for
individuals in nursing homes when the applicant meets certain Medicare and financial
criteria.
In Florida, a single applicant cannot have assets in
excess of $2000 excluding home, auto and few other assets. If married, the spouse cannot
have assets in excess of $76,740 including home, vehicle, etc. Also playig an important
role for Medicaid qualifications would be one's monthly income.
If you have specific concerns and questions or would
like information on planning strategies, please contact an elder law attorney specializing
in Medicaid who will be able to give sufficient advice.
Q
& A
Question
I am over age 65, but sill am employed. Am I
eligible for Mediare?
Answer
Yes, but whether Medicare pays as primary or
secondary depends on your decision (or your spouse's if you are retired and your spouse is
employed). Generally, the employer's health plan is the primary payor, but you have the
option to reject the employer's health plan in favor of Medicare. However, keep in mind
that the employer's health plan is not permitted to offer you coverage that
supplements Medicare covered services while you are employed.
If you elect to keep the employer's health plan as
your primary payor, and you are enrolled in Medicare, then Medicare would pay benefits as
the secondary payor. In the event that you (or your spouse) retire, then you must contact
Medicare to inform them of the retirement date, employer plan and policy number of the
plan so they can update their files -- Medicare will now be your primary payor.
Contact Us By E-Mail
We have started using the internet to research
various topics and obtain information relating to Medicare, government changes, etc.
If you like, you may reach us by E-Mail to ask any
questions or to just say Hi. Our address is:
stang@mcsofswf.com
Do You Need These Papers?
Many of our clients have been asking if papers they
are receiving, which state "This is not a Bill", are important. Our
answer is YES! These papers are from your insurance carrier and are called explanation of
benefits. These papers are important to us because they give us all the information we
need to work on your account. When you receive these papers, please forward them to us.
Medicare Handbooks
The 1996 Medicare handbooks have finally been sent
to all Medicare beneficiaries. If you have not received a copy, you may call Medicare at
1-800-333-7586.
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