LEGAL GUIDE
Written by attorney Brittni A. Sullivan | Nov 13, 2017

Pre-need & Chronic Medicaid

When someone enters a nursing facility, an application for Chronic Medicaid may be appropriate. The average cost of a nursing facility on Long Island is $15,000.00 per month. This type of cost would exhaust assets very quickly in most cases. Chronic Medicaid is the program that covers nursing home care. Medicaid is a needs based program which means there are resource and income requirements that must be met. For 2017, an individual applying for Chronic Medicaid can have no more than $14,850.00 in liquid non-qualified assets, an unlimited amount of retirement assets so long as the applicant is taking a monthly required distribution and an irrevocable pre-paid funeral trust. The applicant may keep no more than $50.00 per month in income.

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