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Category Archives: Medicaid Planning

Putting Rental Home Into a LLC or S-Corp is Sound Medicaid Planning

Put Your Rental Home into a Corporation or LLC Putting Rental Home Into a LLC or S-Corp is Sound Medicaid Planning by Aaron E. Futterman, Esq. To qualify for Medicaid in New York, the Medicaid Regulations (“Regulations”) provide that all income and resources actually or potentially available to a Medicaid applicant or recipient must be…

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Helping another family from Smithtown protect their assets

Futterman & Lanza, LLP finalized estate planning documents for a lovely couple living in Smithtown, NY. They executed their last wills, health care proxies, living wills, and powers of attorney with statutory gifts rider. They also executed a Medicaid asset protection trust to protect their home in the event they ever needed to enter a…

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2018 Medicaid Regional Rates

Effective January 1, 2018, Medicaid regional rates for calculating transfer penalty periods for 2018 were increased from 2017. The regional rates are: Long Island $13,053 New York City $12,319 Northern Metropolitan $12,428 Rochester $11,692 Northeastern $10,719 Western $10,239 Central $9,722 These rates are based on average nursing home costs in each of the seven regions…

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Were Your Medicaid Homecare Hours Reduced?

Were your Medicaid Homecare hours reduced by your MLTC? Did you receive a notice that you would be receiving fewer hours of care? You may be eligible to restore your care to the previous level. Prior to issuing any reduction notice, MLTCs must first identify some development that justifies altering a recipient’s level of services….

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2017 Medicaid Regional Rates

Effective January 1, 2017, Medicaid regional rates for calculating transfer penalty periods for 2017 were increased from 2016. The regional rates are: Region Monthly Regional Rate Long Island $12,811 New York City $12,157 Northern Metropolitan $12,198 Rochester $11,237 Northeastern $10,242 Western $10,078 Central $9,511 These rates are based on average nursing home costs in each…

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New York State Budget 2016- Spousal Refusal Preserved

The New York State legislature defeated the proposal to eliminate “spousal” refusal again. This protection is vital to prevent divorce or forced institutionalization of loved ones in nursing homes, when one spouse with chronic illness needs Medicaid for costly nursing home services. Aaron E. Futterman, CPA, Esq. is a partner in the law firm of…

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