Patty wrote:
You have me confused with someone else. I would never be stupid enough to have my house in my name and not in a family trust. You do what you want. I don't believe in anyone getting anything that they didn't pay into unless they are legitimately disabled.
Patty wrote:
Peter what I find even scarier is that many will have their family homes taken away because of this.
"Heres why dropping the asset test got the BINGO Estate Recovery! You wont find the following info in the ACA. Its in the Omnibus Reconciliation Act of 1993 (OBRA 1993) a federal statute which applies to Medicaid, and, if you are enrolled in Medicaid, it will apply to you depending on your age.
a) OBRA 1993 requires all states that receive Medicaid funding to seek recovery from the estates of deceased individuals who used Medicaid benefits at age 55 or older. It allows recovery for any items or services under the state Medicaid plan going beyond nursing homes and other long-term care institutions. In fact, The Centers for Medicare & Medicaid Services (CMS) site says that states have the option of recovering payments for all Medicaid services provided. The Department of Health and Human Services (HHS) site says at state option, recovery can be pursued for any items covered by the Medicaid state plan.
b) The HHS site has an overview of the Medicaid estate recovery mandate which also says that at a minimum, states must pursue recoveries from the probate estate, which includes property that passes to the heirs under state probate law, but states can expand the definition of estate to allow recovery from property that bypasses probate. This means states can use procedures for direct recovery from bank accounts and other funds.
c) Some states use recovery for RX and hospital only as required by OBRA 1993; some recover for a few additional benefits and some recover for all benefits under the state plan. Recovery provides revenue for cash-strapped states and its a big business.
Your estate is what you own when you die your home and whats in it, other real estate you may own, your bank account, annuities and so on. And even if you have a will, your heirs are chopped liver. Low-income people often have only one major asset the home in which they live and, in some cases, this has been the family home through several generations.
So what this boils down to is: if you are put into Medicaid congratulations you just got a mandated collateral loan if you use Medicaid benefits at age 55 or older! States keep a running tally".
http://www.paulcraigroberts.org/2013/02/03/obamacare-a-primer/That is the post from you that I replied to.
I did not make it plain enough that I was replying in general terms to the issue.
It was not my I idea of applying it just to you but to those that would take advantage of the system.
As I have no way of knowing about you. I have to say I am sorry that I didn't make it clear that I didn't phrase it better.
But I stand by my answer to the issue.