What is Vermont Medicaid?
Medicaid is a health insurance program that’s available only to individuals or families having limited resources, low incomes or suffering from certain disabilities or diseases. Although the US federal government frames the guidelines, every state has its own Medicaid scheme.
A state can determine the healthcare services to be covered and the groups that would get the coverage. The program, hence, varies from state to state. Almost 60 million Americans are covered under Medicaid including pregnant women, children, parents and senior citizens.
What is Vermont Medicaid Long Term Care
To be eligible for long term medical care in the state ofVermontmust either be an adult over 65 years of age, a child having physical and mental disabilities.
Assets considered for Vermont Medicaid Long Term Care
An intending subscriber to Vermont Medicaid can own a home valued at or less than $500,000, a car and in irrevocable burial or funeral. The state has a Medicaid estate recovery plan.
This means that the state can seize your estate at the time of death for the services rendered. The claim can’t be filed if you have a surviving partner, a surviving child below the age of 21 who is permanently blind or disabled.
A person won’t be eligible for any long term Medicaid assistance if you have countable resources over $2,000. This includes money in savings or other accounts, money received from cash surrender, the value of life insurance policies, income from other sources received every month etc.
The income is the net income after deducting all the expenses towards your food, clothing, education and other expenses. Bank charges and similar charges can be deducted from the gross income. Other expenses include repairs to the home, additional construction and the like.
Vermont long term medical care is available at a payment or a monthly or yearly premium.