Protecting Medicaid And Supplemental Security Income
Our federal government, in partnership with individual states, provides two public benefit programs:
Medicaid - to meet the medical needs of low-income persons who are aged, blind or disabled.
Supplemental Security Income (SSI) - to meet the medical needs of low-income persons who are aged, blind or disabled.
Medicaid pays for nursing home care, medical services, prescription drugs, physician bills and hospitalization. One must qualify for Medicaid by having income and assets below set limits, as it is a means-based program. For example, a person with more than $2,000 in assets will not be eligible for Medicaid in some states. Confusion often occurs between the public benefits under Medicaid and Medicare, which is an entitlement program generally available to most at age 65 regardless of income or assets.
Losing Medicaid Benefits
One can receive Medicaid benefits and become ineligible if they were to suddenly receive assets from an inheritance or settlement from a lawsuit.
