California Estate Planning Blog by Kevin Staker

March 2, 2009

Kevin Staker Has Posted the Initial Draft of an Article on the Status of Medi-Cal Planning for Long Term Care at Newsvine.

Filed under: Uncategorized — Kevin Staker @ 1:49 pm
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Kevin Staker Has Posted the Initial Draft of an Article on the Status of Medi-Cal Planning for Long Term Care at Newsvine.

The Article by Kevin Staker is entitled:

Update on Medi-Cal Planning for Long Term Care in California: the DRA is Implemented into Law

The link the article by “Kevin Staker” is:

http://kevinstaker.newsvine.com/_news/2009/03/01/2491932-update-on-medi-cal-planning-for-long-term-care-in-california-the-dra-is-implemented-into-law

The article analyzes the implementation of the federal Deficit Reduction Act of 2005 as it relates to long term care planning under Medi-Cal.  California Senate Bill 483 was signed into law in September 2008.  However, it is not truly effective until regulations are finalized, which will not take place before 2010.  The article analyzes the effect of Senate Bill 483 on the $750,000 limit on home equity, the ban on stacked (also called staggered) gifting, and rounding down on a period of ineligibility.

Kevin Staker also talks about how the liberal provisions for hardship waivers will likely undercut the idea of Senate Bill 483 of cutting down on asset protection in relation to Medi-Cal.  Kevin Staker also questions the conventional wisdom that Senate Bill 483 will prevent Medi-Cal from making the gift of the home a disqualifying transfer, at least for an institutionalized individual.

by “Kevin Staker”

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