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Fall risks, spoiled food, or other threats to wellbeing
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Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
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Mom has a mortgage that is upside down. SHe has little if any equity. The mortgage is prohibitive to her needs - meaning that she needs care, and can not live at home anymore alone. She has applied for medicaid in Illinois.
Under federal law, it is only the net equity that counts, i.e., the value of the asset minus the debt owed (20 C.F.R. 416.1201(a)). In any event the home would be an exempt asset even if she had some equity. In either case, then, this should not affect her Medicaid eligibility.
Listen to the expert Mr. Heiser. But for heaven sakes, get a realtor in on this house, try for a short sale or some other remedy. We already had our real estate upside down debacle in 2008, but Bank of America was punished and we got $6000 back for all the hassle they put us through.
May have a home, one motor vehicle and no more than $2000 in the bank (if not married)....would sign a statement saying she intends to return home at some point...a formality....gets more complicated if there is a community spouse still at home....bear in mind that elder care lawyers are not all created equally qualified...we consulted four, three of whom were woefully out of date on the law...In case she has substantial assets (money, mainly) and gifts it to children, there is a five year lookback from the date she enters the nursing home....any gifts in that five years delay the onset of Medicaid by that amount....Example: gifts total $50,000.....Nursing home costs $10000 a month, would mean the onset of Medicaid would be delayed by five months....So, out of pocket until then,...Mine are vastly oversimplified comments....just a hint or two....
Sooz - what the 5 mos Bob is referring to is a simple transfer penalty equation. So if 10K a mo for NH then a penalty of 50K is 5 mos.
However, in actuality, transfer penalty more involved. Each state has their own unique reimbursement rate for the room & board paid by Medicaid. The transfer penalty is based on that rate and has a couple of other factors involved (when transfer & application done. Most states have the formula in their Medicaid website. Like if the penalty was for TX, TX r&b is about $ 145.00 day. So a 50K transfer penalty in TX would run about 344 days of ineligibility for Medicaid to pay. The residents although now qualified for Medicaid would be ineligible for payment for 344 days. Almost a year and almost double if the r&b was $ 333.00 a day (10K a month payment). The state of penalty makes a huge difference.
Tom - if mom walks on the house, the mortgage holder will eventually foreclose on the property. When that happens, mom will probably get a 1099-C from the mortgage holder (1099-C is the IRS form for Cancellation of Debt). The amount will be for whatever the foreclosed amount is plus perhaps all fees. It will be a significant amount of $$$. The sticky with this is that the amount indicated in the 1099-C is is fully considered income and taxable.
Totally zombie income but income nevertheless. And taxes have to be paid on all income. Mom will have to file taxes for that year and do a specific form and documentation for 2 things - to offset the "income" from any costs on the home & also because she is on or applying to be on Medicaid also do it for impoverishment (IRS form 982).
Why? you ask….well the 1099-C goes from the issuer to the IRS also. IRS will provide this info for any match up between the IRS & the states. The amount on the 1099-C is fully taxable income and will keep her for qualifying for Medicaid as it will take her over the income/ asset limits of Medicaid. That is what the 982 will take care of.
1099-C can be issued for any cancellation of debt. Credit card debt, old medical debt, anything that a debt holder wants to do a 1099-C for. There are real business advantages to issuing 1099-C for write offs. So think if mom could have other debts, that could have their own fun to deal with 1099-C too. 1099-C do not have to be issued for the year in which the debt was canceled necessarily. CC ones can be issued years & years later from when the account was closed. So be on the lookout for these in January when all 1099's have to issued and mailed out by the EOM. You will have to do a 982 it for every year that mom gets a 1099-C. They are kinda sticky to do, not really a DIY IRS filing or any of the TurboTax type of programs. Most free for the aged tax programs (like the great AARP one) does not 982 type of filings. You have to get a tax pro or CPA to do it.
Old Bob... You said Medicare looks back 5 yrs. In case she has substantial assets (money, mainly) and gifts it to children, there is a five year lookback from the date she enters the nursing home....any gifts in that five years delay the onset of Medicaid by that amount....Example: gifts total $50,000.....Nursing home costs $10000 a month, would mean the onset of Medicaid would be delayed by five months....So, out of pocket until then,..." Why 5 months?
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
However, in actuality, transfer penalty more involved. Each state has their own unique reimbursement rate for the room & board paid by Medicaid. The transfer penalty is based on that rate and has a couple of other factors involved (when transfer & application done. Most states have the formula in their Medicaid website. Like if the penalty was for TX, TX r&b is about $ 145.00 day. So a 50K transfer penalty in TX would run about 344 days of ineligibility for Medicaid to pay. The residents although now qualified for Medicaid would be ineligible for payment for 344 days. Almost a year and almost double if the r&b was $ 333.00 a day (10K a month payment). The state of penalty makes a huge difference.
Totally zombie income but income nevertheless. And taxes have to be paid on all income. Mom will have to file taxes for that year and do a specific form and documentation for 2 things - to offset the "income" from any costs on the home & also because she is on or applying to be on Medicaid also do it for impoverishment (IRS form 982).
Why? you ask….well the 1099-C goes from the issuer to the IRS also. IRS will provide this info for any match up between the IRS & the states. The amount on the 1099-C is fully taxable income and will keep her for qualifying for Medicaid as it will take her over the income/ asset limits of Medicaid. That is what the 982 will take care of.
1099-C can be issued for any cancellation of debt. Credit card debt, old medical debt, anything that a debt holder wants to do a 1099-C for. There are real business advantages to issuing 1099-C for write offs. So think if mom could have other debts, that could have their own fun to deal with 1099-C too. 1099-C do not have to be issued for the year in which the debt was canceled necessarily. CC ones can be issued years & years later from when the account was closed. So be on the lookout for these in January when all 1099's have to issued and mailed out by the EOM. You will have to do a 982 it for every year that mom gets a 1099-C. They are kinda sticky to do, not really a DIY IRS filing or any of the TurboTax type of programs. Most free for the aged tax programs (like the great AARP one) does not 982 type of filings. You have to get a tax pro or CPA to do it.