Medicaid / Medi-Cal
- The US Supreme Court has ruled that a life insurance policy is an asset and will count against the owner of the policy when applying for Medicaid and California’s Medi-Cal
- Medicaid and Medicare financial assistance are not accepted by Assisted Living and Private Duty Homecare
- A life insurance policy converted into a Long Term Care Benefit Plan is a qualified Medicaid spend-down
When applying for Medicaid or Medi-Cal your life insurance policy will be counted against you as an asset. However, by converting your life insurance policy to our Long Term Care Benefit Plan, you will be spending down this asset towards the cost of your care in a Medicaid or Medi-Cal compliant manner while still leaving a portion of the death benefit for your family.
With our Long Term Care Benefit Plan it extends the time you will remain private pay and delays your entry onto Medicaid. With private pay, youcan choose the form of care you want and remain financially independent.
When a person goes onto Medicaid or Medi-Cal it means they have become a ward of the state. They are below the poverty line and unfortunately they are not able to choose the form or place of care that they want.