Tuesday, July 1, 2014
The GAO has released a new report, Financial Characteristics of Approved Applicants and Methods Used to Reduce Assets to Qualify for Nursing Home Coverage. The highlights of the report summarize that from the "review of 294 approved Medicaid nursing home applications in three states showed that 41 percent of applicants had total resources—both countable and not countable as part of financial eligibility determination—of $2,500 or less and 14 percent had over $100,000 in total resources." Further, "[n]early 75 percent of applicants owned some noncountable resources, such as burial contracts; the median amount of noncountable resources was $12,530." The report reviews the methods of Medicaid eligibility and notes that the Medicaid workers thought bank statements to be the most helpful in determining an applicant's eligibility. A pdf of the report is available here.