Close to half of California's long-term care bill is paid for by Medi-Cal

To be on Medi-Cal, people will either immediately qualify, or they may have to "spend down" their own savings to become eligible. When you apply for benefits, the Medi-Cal office will review your assets and income to determine if you are eligible. INCOME GAP California sets monthly income limits for the person entering the nursing home. The income of the healthy spouse is not considered when determining eligibility. If your income exceeds California's income limits, there are legal steps you may be able to take to meet the restrictions. Ask your Linker Financial Group, Inc. advisor about this and other options available to you.

SPEND DOWN
California is a spend-down state, and eligibility is primarily dependent on the amount of assets you have. Assets are counted jointly for married couples, and California sets stringent restrictions on the amount of countable assets owned. When you apply for Medi-Cal, your assets are classified as either countable or non-countable to determine your eligibility. Only countable assets are considered in eligibility. Non-countable assets are not considered in determining eligibility. Non-countable assets are not considered and sometimes are referred to as unavailable or exempt assets. If you have two many countable assets, you will not qualify for Medi-Cal.

For more information about services provided by the experts at Linker Financial Group, Inc. or to schedule a brief, no charge, no obligation consultation to see if Medi-Cal Long Term Care planning is right for you, please give us a call or send us an e-mail right now.