Medicaid is a Federal program administered by each State that provides financial assistance to those in need of a variety of health care services, most notably, long term care for the elderly which (in Oregon) can include assisted living facilities, nursing homes, and stay-at-home caregiving. Other Medicaid benefits are for those with disabilities, pregnant women, and children.
While the program has changed and evolved to meet the perceived needs of the American public, here is a brief introduction to where it is today in Oregon:
Oregon’s Medicaid is run through the Oregon Health Plan and applications are required to be made there.
Who is Eligible?
Non-financial requirements:
- Must be a US citizen or qualified alien (such as a permanent resident).
- Must be over age 65 or disabled and in need of long-term care.
Financial requirements:
- Your income must be below a certain level ($2,382 in Oregon as of December 31, 2021, but this number changes at least annually). Note that there are certain types of planning that you can do if your income is above this level but below the cost of long-term care and still qualify for Medicaid.
- Your assets must be below a certain figure as well. Generally, an individual is allowed a residence, a car, and $2,000. Their spouse might be able to keep anywhere from $26,076 and $130,380 (as of December 2021) but if you have more than this, you generally will not qualify for the Medicaid program.
Proper planning is critical to avoid impoverishing yourself in order to qualify for Medicaid. With careful strategy, you can maximize the use of your assets for approved purposes, improve your quality of life, and get the care you need. Call my office for a consultation to discuss whether a detailed analysis of your situation is warranted.
For an article discussing the differences between Medicare and Medicaid, click HERE.