This is an important concern. You need the benefits of MassHealth to pay for your long-term care and your spouse needs to continue to live in the community.
If one spouse goes into nursing home care and applies for Medicaid/MassHealth and the other spouse stays home, then the at-home spouse—called the “Community Spouse”—can keep $123,600 in assets, according to 2018 guidelines.
The allowed allotment changes annually.
However, if the community spouse later needs to enter a care facility, that asset limit number drops right down to $2,000. So they have to spend all the money from previous assets on their own nursing home care. This is why protecting money in the proper trust can be so valuable.
Let a Professional Help You With MassHealth
Do not let the expense of long-term care result in all of your hard-earned assets going to the government. Instead, be proactive and plan for the future.
Attorney Michael Monteforte, Jr. can review your financial structure and all your legal options. He will strategize with you and your spouse to enable you to keep as many assets as possible, devise ways to pass on your wealth to beneficiaries, and determine the proper approach if you have a need for MassHealth or other services later on. Call today to learn more about what our legal team can do for you.