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Re: IRA's

Posted by Steve Eads, CLU on June 20, 2002 at 13:06:21:

In Reply to: IRA's posted by Bill Orr on June 19, 2002 at 17:01:00:

: Have not been able to find out how IRA accounts are
: treated when qualifying for Medicaid (MediCal). Would
: spouse at home have to spend down their IRA to pay for
: long-term care of other spouse (as they would have to do for joint assets)or is the IRA protected because it
: is not a joint asset? California now protects house,
: car, and about $90,000, etc.

FULLY counted in the formula...no protection on qual. plans.

Steve Eads, CLU
seads@eadsassociates.com

Follow Ups:

Re: IRA's : : Have not been able to find out how IRA accounts are : : treated when qualifying for Medicaid (MediCal). Would : : spouse at home have to spend down their IRA to pay for : : long-term care of other spouse (as they would have to do for joint assets)or is the IRA protected because it : : is not a joint asset? California now protects house, : : car, and about $90,000, etc. : FULLY counted in the formula...no protection on qual. plans. : Steve Eads, CLU : seads@eadsassociates.com

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