Medicaid can now require Individuals (not Married Couples) to use Home Equity (in excess of $500,000.) to pay for their own nursing care.
Also of importance, on June 30, 2005, there were sweeping
changes to the
The chilling effect of Ohio House Bill 66 is that whereas previously only the assets of the Medicaid recipient passing through probate were subject to recovery by the State, now any asset in which the individual had an interest at the time of death may be recovered by the State.
The law goes much further than the prior law because
it now includes any asset in which the decedent had any interest at the
time of their demise. This may include the house, life insurance and
annuity benefits, in addition to joint and survivorship accounts and/or trust assets.
And unlike other states,
While there are specific limitations on which assets
can be liened by the State because of certain Federal Laws, the State of Ohio
now also uses collection companies, which may act very aggressively because their
fees are contingent upon the amount they collect.
Because of these major changes, it is very important to discuss this with an estate planning attorney who knows the Medicaid law in order to protect your assets for your loved ones.
Mr. Marshek will be most happy to assist you and your family in defending Medicaid Recovery and resolving the issue with the State of Ohio.