09/16/2026
Think you have to spend everything you've saved before qualifying for Medicaid? That's a common misconception.
When a loved one needs nursing home care, many families immediately worry that their life savings will have to be used to pay for long-term care. Unfortunately, myths and misinformation about Medicaid often add to that stress.
While Medicaid does have income and asset limits, a "spend-down" is not always the only option.
Depending on your family's circumstances, there may be strategies that can help protect some assets while still qualifying for Medicaid medical assistance. For married couples, certain assets may be transferred to the healthy spouse. In other situations, including when someone is unmarried, there may be additional planning options available depending on the person's income, resources, and nursing home expenses.
The rules are complex, and the right approach depends on your individual circumstances. That's why it's important to understand your options before making financial decisions or spending down assets.
Don't assume you have to spend everything you've worked a lifetime to save!
If you have questions about Medicaid eligibility or long-term care planning, contact us to schedule a free consultation and learn more about the options that may be available to you.
☎️ 718-575-5700