What Are the Disadvantages of a Medicaid/Medi-Cal Trust?

The Medicaid program is administered by the state government in conjunction with the federal government. Each state has a bit of latitude with regard to the exact way that the program is implemented. We practice law in the state of California, and in our state, the program is called Medi-Cal. This program is only available to people who can prove that they have financial need. Medi-Cal is important for many senior citizens who were never financially needy, because it will pay for long-term care. Most seniors will qualify for Medicare, but Medicare does not pay for living assistance. The Medicaid/Medi-Cal asset limit for an individual is just $2000. There is additional protection for married couples. As a result, people often give away assets so that they can qualify for coverage to pay for long-term care. Across the country, there is a five-year Medicaid look-back period. You are penalized and your eligibility is delayed if you give away assets within five years of applying for covera
http://www.norcalplanners.com/blog/elder-law/disadvantages-medicaid-trust/

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