When creating or modifying an estate plan, it is crucial to have a clear understanding of your unique circumstances and how they could affect your assets. For example, if you receive certain services from Medicaid, the program could seek repayment following your death, depending on your situation.
It is critical to determine whether Medicaid recovery will impact your estate and prepare accordingly.
When does Medicaid seek recovery from estates?
According to the Nevada Department of Health and Human Services’ Division of Health Care Financing and Policy, Medicaid Estate Recovery seeks repayment from those who received certain services, such as hospital, nursing home, prescription drug and community-based services.
Repayment impacts inpatients of medical facilities and those 55 and over. The state reviews savings and checking accounts, stocks, personal property, savings bonds and other types of assets. After a Medicaid recipient dies, the state could move forward with a property lien.
Are some estates exempt from Medicaid recovery?
In some instances, Medicaid does not seek repayment from an estate. For example, if the recipient leaves behind a spouse, a child under the age of 21 or a disabled child of any age, MER does not affect the estate. Moreover, if a family member or beneficiary believes that estate recovery would cause them to suffer significant financial problems or compromise their health or shelter, they can request a hardship waiver.
If you have concerns about MER or any other issue that could impact your estate, resources are available to help you decide how to move forward.