What Is an Asset Spend-Down?

Asset spend-down is the process of reducing your financial assets to meet the strict eligibility limits for Medicaid long-term care benefits. This involves spending money on allowable expenses, such as medical bills or home modifications, until your assets are low enough to qualify.

Why It Matters

This process allows individuals with too many assets to become eligible for crucial long-term care coverage from Medicaid. However, it must be done according to complex rules to avoid penalties that could delay eligibility.

How Mira Mace Can Help

While Mira Mace focuses on your Medicare benefits, navigating healthcare financing is part of our expertise. We can help you understand the concept of a spend-down and connect you with qualified elder law attorneys or financial planners who specialize in Medicaid planning.