Medicaid is a joint federal-state program that covers healthcare and long-term care for people with limited income and assets. For retirees, it's primarily a long-term care safety net that kicks in after personal assets are largely spent down.
Medicaid is a joint federal-state program that covers healthcare and long-term care for people with limited income and assets. For retirees, it's primarily a long-term care safety net that kicks in after personal assets are largely spent down.
Medicaid pays for about half of all long-term care in the US. If you don't have LTC insurance, it's likely where you'll end up if care lasts more than a few years. Understanding the 5-year lookback, spousal protections, and spend-down rules is essential for anyone planning for late-life care.
A Medicaid Asset Protection Trust must be created at least 5 years before you apply for benefits to avoid the lookback penalty. This is a decision made in your 60s, not your 80s.
Start with the free Retirement Readiness Score to see where you stand, then talk to a fiduciary if you want a second set of eyes. No pitch, no pressure.
Take the free assessment