Monday, June 27, 2005
In her article, In Effort to Pare Medicaid, Long-Term Care Is Focus, NY Times, June 27, 2005, Jane Gross reviews the proposals currently under consideration to reduce Medicaid expenditures, especially for individuals who "plan to be poor" so they can get on the Medicaid dole rather than pay for care using their own funds.
These proposals include the following:
- Extend look-back period to five years from the current three years for non-trust transfers.
- Require homeowners to obtain a reverse mortgage to finance care.
- Mandate that states obtain liens on the homes of nursing facility residents to make certain costs are reimbursed when the homeowners die.
- Create tax credits and/or deductions to encourage people to purchase long-term care insurance.