123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Disallowing Partial Cures: Is It The New Trend?

Profile Picture
By Author: Dale Krause
Total Articles: 15
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

For those that are not familiar with the term, a partial cure exists when a giftee returns a portion of a gift to a Medicaid applicant, thereby reducing any previously applied divestment penalty period accordingly. This technique is primarily popular in reverse half-a-loaf planning. For purposes of an example, Martha will illustrate the use of a partial cure.

Martha resides in a nursing home, and is seeking Medicaid eligibility. She gifts her entire spend-down amount to her children, resulting in a 20-month divestment penalty period. From month one through 10 her children return one month's private pay costs to Martha. Martha in turn uses these funds to pay her nursing home bill each month. After month 10, Martha requests her caseworker to readjust the original divestment penalty period in light of the prior gifts that were returned. The desired result is that the returned gifts "partially cure" the previously imposed divestment penalty period, reducing it from 20 months to 10. With 10 months having already passed, Martha would then be immediately eligible for Medicaid benefits.

I've always been of the ...
... opinion that using partial cures was a gamble in planning, and could potentially cause a countable resource problem. Over the years, an increasing amount of states are taking the position that the return of a previously made gift would not reduce the penalty period, and instead would be a countable resource in the month returned. Several case decisions have transpired over the years, further confirming the aforementioned. Most recently, Ellis v. Minn. Dept. of Human Services (D. Minn., No. 11-3411, Nov. 30, 2011).

Could this be the new trend?

Total Views: 200Word Count: 279See All articles From Author

Add Comment

Investing / Finance Articles

1. How To Transfer Crypto To Bank Account?
Author: Kezex

2. How To Secure A Pension Of Rs. 50k Every Month?
Author: Jane Joness

3. How To Secure A Pension Of Rs. 30k Every Month?
Author: Jane Joness

4. Why Do I Need Rs 50 Lakh Term Insurance?
Author: Jane Joness

5. What Is A Mutual Fund? Understand Its Meaning, Types And Benefits
Author: Jane Joness

6. Why Is Decentralization Costly
Author: Kezex

7. Tezos Foundation Powers Magic Integration, Accelerating Tezos Blockchain Support
Author: Orson Amiri

8. What Is The Process For Repaying Our Short Term Loans Uk?
Author: Jack Ryder Jack Ryder is a financial adviser

9. Metacomp Announces Strategic Partnership With Harvest Global Investments
Author: Orson Amiri

10. Same Day Loans Online: A Reliable Financial Aid Source
Author: Nicola Ferguson is a financial adviser of Fast Pay

11. Paynym: Enhancing Privacy In Bitcoin Transactions
Author: Independent Crypto Coaching

12. How Is A Token Stored?
Author: Kezex

13. Mastering The Market With The Best Crypto Trading Bot - Growlonix
Author: Growlonix

14. Maximizing Opportunities: Sell Usdt In Dubai's Cryptocurrency Market
Author: cryptodubaiotc

15. What Makes Obtaining A Short Term Cash Loans With A Poor Credit History Challenging?
Author: Jack Ryder Jack Ryder is a financial adviser of pa

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: