It happens all the time. About a third of the time to be more specific.
Your Medicaid personal monthly allowance builds up slowly inside of your checking account. Or maybe dear cousin Sally passed away and left you $10,000. Or maybe you won on a Scratchers ticket.
Next thing you know, you have more than $2,000 in checking and Medicaid notifies you that you’re over resourced and you’ve lost your benefits until you spend down and reapply.
In most cases, you’re not even aware of the problem because it’s a family member who’s listed as your authorized representative. They’re getting letters from Medicaid (AHCCCS), but they’re not opening them.
So the Medicaid checks stop showing up, and now your assisted living community is telling you and your family you’re in default. You need to pay up or find someplace else to live.
It’s a nightmare.
Why worry about it?
At Stronghold Financial, we are the first and only Medicaid planning firm to offer an ongoing Medicaid Maintenance program. We remain on file as your authorized representative. We check in with you, your family and your finances to ensure you remain financially compliant.
We make sure your personal monthly allowance is being spent on your needs and not building up inside your checking account. We provide guidance on what to do with sudden windfalls. Our small annual fee is more than worth the peace of mind you’ll get from knowing that when Medicaid does their financial reviews, we’ll be there to handle it and make sure you keep your Medicaid benefits for as long as you’re alive.
What criteria is required to maintain Medicaid eligibility?
The eligibility requirements for maintaining your Medicaid benefits include several factors, including citizenship, residency, medical history, and various financial requirements. Click here to view the full Medicaid eligibility requirements.
How often will I be billed for your Medicaid maintenance services?
Our Medicaid maintenance services are billed annually.