Content Overview 
- Summary
- Transfer Assets For A Reason Other Than To Be Eligible For Medicaid
- Transfer Assets
- Set Up A Supplemental Needs Or Other Trust
- Invest In Your Home Up To The Legal Limit
- Transfer Your Home And Keep A Life Estate
- Make A Payment To A Continuing Care Retirement Community
- Make A Loan
- Purchase Items That Medicaid Doesn't Count
- Create A Medicaid Trust
- Purchase An Annuity ("Medicaid Annuity")
- Reduce Equity In Your Home
- Fund A Caregiving Agreement With Family Members or Friends
- Get A Divorce
- Ask A Significant Other To Move Out
- Move Out Yourself
- Pre-Pay Funeral Costs To The Extent Permitted By State Law
Medicaid: How To Plan Ahead For Long Term Care Coverage
Transfer Assets For A Reason Other Than To Be Eligible For Medicaid
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Transfers of assets are not penalized if it can be shown they were transferred for a reason other than to qualify for Medicaid. For example:
- Pay for a child's wedding.
- Pay off debts.
- Pre-pay a child's education costs.
- Enter into a contract with a person who is close to you to provide care giving services (see Caregiver Contract below).
- Fix or upgrade your car, or pay off the debt on an existing vehicle. (One vehicle is not counted as a resource.)
- Pre-pay rent, say for one year.
- Prepay medical expenses
Jacques M. Chambers, a benefits counselor in Los Angeles, suggests that while some of these ideas might provide a haven from the penalty, don't go overboard or stretch it too far. It could be considered fraud.
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