Every time you receive a paycheck, you have probably noticed that a certain amount of money is deducted to go towards Social Security. While most people do not like to see mandatory government deductions on their paycheck stubs, this money pays for medial assistance PA.
Retirement Age and Dependents
Individuals in Pennsylvania who retire from work at the age of 65 will be able to collect Social Security. Those who suffer from a documented disability may be able to get their Social Security at a younger age. Minor children will receive medical assistance PA if their parent dies before retirement age. As long as one “pays in” enough money during their lifetime, they will get Medicare medical assistance PA.
Medicare Part A and Part B
However, Medicare medical assistance PA is not comprehensive and some people have co-pays. Because basic Medicare does not provide all necessary services, a lot of retirees purchase supplemental health insurance. With Part A Medicaid, hospital stays are covered but there are caps on nursing facilities. Part B covers medical supplies, outpatient care and doctor visits. Prescription medication and long-term care are two of Medicare’s biggest coverage gaps. If medical assistance PA is collected elsewhere, Medicare will expect to be reimbursed; there is no “double-dipping” allowed.
Medicaid and Income Threshold
Medicaid is a different type of medical assistance PA. This is a welfare program that does not receive funding via Social Security. Approximately half of the funds for this medical assistance PA are derived from state taxes while the other half is paid by Congress. While each state in the United States has its own coverage rules, Medicaid medical assistance PA covers hospital stays, doctor visits, prescription medication, long-term nursing homes and x-rays.
Eligibility for Medicaid is determined by the recipient’s income level. This type of medical assistance PA is designed for low-income households. The individual has to be below the federal government’s yearly income threshold, which is adjusted every year. Also, this medical assistance PA is only available to legal U.S. citizens.
Medicaid and Assets
As stated above, Medicaid provides coverage for long-term nursing homes if the person meets the particular guidelines set by the federal government. However, there are certain caveats. Medicaid medical assistance PA can issue a lien against the person’s future earnings, gifts, lawsuit awards, estate and inheritances to be repaid for nursing home services. Anyone who transfers assets the prior five years before applying for this medical assistance PA will be ineligible according to the assets’ value. This ineligibility period is temporary and in some cases, asset transfers to disabled children and spouses may be exempt.
Congress has put a few measures in place to make sure that disabled children and healthy spouses of Medicaid medical assistance PA programs will not become impoverished. One guideline allows a healthy spouse to keep a car, a home and up to $100,000 if their disabled spouse moves to a nursing-care facility. They have also issued a Special Needs Trust under that lets people engage in asset protection planning.