What is Medicaid spend down in Kentucky?
This program allows you to deduct certain medical expenses from your income so that you can qualify for ABD Medicaid. If you have medical expenses that significantly reduce your usable income, you may qualify for a Medicaid spend-down.
How does spend down program work?
It works almost like a deductible for car insurance. When you have accumulated medical bills (paid or unpaid) greater than your excess income, you will get Medicaid for that month. You are responsible for the bills up to the excess amount; Medicaid will only pay those bills over the excess amount.
What expenses qualify for Medicaid spend down?
What Are the Rules, Exemptions and Limits of a Medicaid Spend Down?
- Medical bills, past and current.
- Transportation services to get medical care.
- Home improvements to help with medical care, like a chair-lift.
- Medical expenses, such as eyeglasses or a hearing aid.
What is the income limit for Kchip in KY?
KCHIP Income Limits
| Number of Family Members (include parents and children) | Total Monthly Family Income (before taxes) | Total Annual Family Income (before taxes) |
|---|---|---|
| 1 | $2,340 | $28,080 |
| 2 | $3,165 | $37,980 |
| 3 | $3,990 | $47,880 |
| 4 | $4,815 | $57,780 |
What is the difference between Kchip and Medicaid?
Medicaid offers care to the poorest families while CHIP extends coverage to a larger number of children. Care through the Medicaid program may be more extensive, but the CHIP program also offers a broad depth of coverage.
How much can you make and get Medicaid in KY?
The Kentucky Medicaid program provides medical assistance to individuals meeting income, resource and technical eligibility requirements. The income limit is $217 and resource limit is $2,000 for an individual. If an individual’s income exceeds $217, spenddown eligibility may apply.
How do I hide my assets from Medicaid?
Trusts are the most common and useful legal devices. An “Irrevocable Trust” works best for hiding your assets. Your assets are RE-POSITIONED from you to an irrevocable trust. You “legally” no longer own the assets.
Who qualifies Kchip?
Individuals are eligible for the KCHIP program if: They are residents of the state of Kentucky. They are under the age of 19. Children are from families with income less than 200% of the Federal Poverty level.
What is the income limit for Medicaid in KY?
In Kentucky the individual receiving Medicaid cannot have income over $2,250. If their income is over that amount, they will need to do some Medicaid Planning to create eligibility. One strategy that works well is a Miller Trust (also known as a Qualified Income Trust).
What is KY Medicare?
Types of Medicare coverage available in Kentucky Original Medicare, Part A and Part B, refers to federal Medicare coverage. Medicare Advantage plans, Part C, are Medicare insurance offered by private Medicare-approved insurance companies. Medicare Part D is optional Medicare prescription drug coverage.
Is Kentucky a Medicaid state?
Kentucky Medicaid is a state and federal program authorized by Title XIX of the Social Security Act to provide health care for eligible low-income residents including children, families, pregnant women, the aged and the disabled.
How does Medicaid spend down?
The Medicaid spend down process boils down to disposing of resources to become asset eligible for nursing home benefits. You have two choices when it comes to spending down: re-actively spend excess assets or design a step-by-step, planned approach.