January 1st of each year brings changes to several key Medicaid figures, which are adjusted for inflation. Below are the Connecticut Medicaid (also known as Title XIX and Husky) figures that apply as of January 1, 2020:
UPDATED CONNECTICUT MEDICAID FIGURES FOR 2020
A Spend Down in Medicaid is the process of reducing the assets of a Medicaid applicant and their spouse in order to financially qualify for Title XIX Medicaid coverage. A Spend Down can also refer to reducing the applicant’s monthly income in order to become “income eligible” for Medicaid.
For elderly parents, once simple tasks become harder to accomplish. One of those tasks is financial management. Without help, a parent can become confused and derail his or her retirement plan. Bills go unpaid. Dividend checks get lost. Duplicate checks to the same charity or vendor begin to appear. The situation begs for children to step in and organize the parent’s finances.
If your parent is in this situation, you need to take these five steps:
Do you remember the first time one of your parents let you drive the family car? Remember the excitement you felt getting behind the steering wheel, followed quickly by that rush of anxiety as you realized you were accelerating down the road, and the trees appeared to jump out toward the car? Remember the sound of the engine roaring from you pressing too hard on the accelerator, turning quickly into the sound of a neck jolting screech as you attempted to apply the brakes for the first time? During my first lesson, my Dad's quick corrections on the wheel saved several unsuspecting joggers
