Medicaid

MR. WATSON: Medicaid (State-run) for financially needy people regardless of age. The Feds and each state fund it.

MR. WATSON: Medicaid is a medical public assistance program to help needy people who must prove they don't have the ability to pay ("means tested"). To qualify for Medicaid you have to not only have the medical need but you also have to be extremely poor. You don’t need to know the dollar amounts for “extremely poor” but, trust me, it’s very low. The medical needs include kids under age 21, disabled individuals, and blind individuals.

MR. WATSON: Medicaid will also pay for Nursing Home Benefits, custodial care or assisted care, in a nursing home if the person is:

• At least 65 and blind or disabled
• A U.S. citizen or permanent resident alien
• Needs the types of services that only a nursing home can provide and
• Meets income and asset tests

MR. WATSON: In the past people would take certain steps to meet the asset and income tests so they would qualify for Medicaid. They would do this by transferring assets out of their name. They did this so Medicaid would pay for their Long Term Care in a nursing home.

ALL: Whoa!!!

MR. WATSON: The government tried to close this loophole by applying certain asset tests.

MR. WATSON: So, an older person needs to be broke. The old guy can not just give his assets to his kids so he can meet these tests. Medicaid "looks back" for five years to see if he is trying to "get over" on Medicaid. If they find he did give it away, it will be "brought back" in. Also, the home equity exemption has been limited to $600,000.

 

State Workers' Compensation Program

MR. WATSON: This is designed to help injured workers return to work. Employers buy this coverage from private carriers or through state programs or they can self-insure. Workers' Comp. provides mandatory benefits for work related injuries, illness or death. If a worker had group disability and is covered under workers' comp., he won't receive both. If injured on the job, workers' comp. will pay, NOT the group disability. It will exclude other benefits. Why have both? In case you're injured off the job.

MR. WATSON: It does not matter whether or not the employer was at fault for your injury. The benefits will be paid if you are injured on the job. The amount of benefit is limited by law and includes medical care costs, disability income, rehabilitation benefits, and sometimes a lump sum benefit.