UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78672  
Subject: Re: Obamacare and estate recovery Date: 8/31/2014 2:40 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 19
Here's the real deal on Obamacare and estate recovery:

If you're a multi-millionaire who legally managed to minimize investment income and qualify for free Medicaid, the Gov't will try to recover the benefits paid. But they're not going to come for some poor black grandmother's shotgun house in Houston.

So don't go whole hog and try to qualify for Medicaid if you're wealthy and worried about asset recovery. Stop at 138% of the Federal Poverty Level and be content to collect a sizable tax subsidy plus a reduced annual out-of-pocket limit of about $2,000 instead of the $6,000 that higher income people get.


Today's overblown Obamacare fear: Will Medicaid take my house?

On the whole, the estate recovery program hasn't been a big moneymaker for government at any level. Since 1993, California has collected $978.5 million, Williams says. That's 15 hundredths of one percent of the $621 billion it has spent on Medi-Cal in that time. The state's average claim is $95,000, but its average recovery is only $15,000; the discrepancy can be chalked up to hardship waivers and to the basic fact that most Medi-Cal enrollees don't have much to their names, if anything.

According to federal figures compiled in 2004, all the states together recovered only 0.8% of their nursing home expenditures that year.


Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Saul's Investing Discussions

Skyworks Mid-Quarter Review
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.