A qualified transfer might save income spent for medical expenses that would be covered by Medicare, but the transferor could not recover control of income upon recovery. Rules for eligibility for Medicaid are established by each state. The eligibility rules are complex. There are now consultants who specialize in this area. The Insurance Solution Insurance is now available to cover costs of long-term care whether at home or in an institution.
Programs vary in scope and in cost.
The premium return policy is a specialty, but there are several other policies that are surprisingly affordable, especially when the asset base being protected is considered. Coverage and Options to Consider All coverage is not the same and policies must be examined carefully before purchasing Exhibit 1 is a checklist that will help you evaluate a policy. Home health care. Generally, all policies are rewable, cover Alzheimer's disease, and cover pre-existing conditions with limitation periods, usually six months. If the long-term benefits are needed within six months of the effective date of coverage due to a preexisting condition, coverage may be denied.