Has anyone ever told you that they lost their inheritance because Medicaid took what was left after their parents passed away? Ever wonder how something like this can happen? It just doesn’t seem fair.
In Ohio, Medicaid Estate Recovery is a program that collects on estates of those who received long-term care support. When Medicaid recipients receive Medicaid in their home, an assisted living facility or a nursing home, the state will recover the cost of that care from the person’s estate. This means that all of the real and personal property, i.e. house, land, cars and bank accounts owned or co-owned by a Medicaid recipient at the time of their death will have to be sold to pay the state. You read that right, even property co-owned will go to the state if you have left yourself in this type of situation.
The amount that they can recover depends on the total amount of Medicaid paid on behalf of the individual. This can include payments for doctor visits, nursing home stays, PASSPORT and other medical and prescription services. This can add up to over $200,000!
It is important to understand that having a Will does not protect you from Medicaid Estate Recovery. The program will collect before ANY of your assets are distributed to your beneficiaries.
If would like to make sure that your estate is protected for your loved ones after you pass away, contact the experienced elder law attorneys at AlerStallings for an asset protection evaluation.