Medicaid Spend Down
How Prepaying Funeral Expenses Can Help Qualify You for Medicaid
Prepaying for funeral expenses is a strategy known as a “spend down.” It allows you to set aside funds to help reduce your countable assets, making you eligible for Medicaid.
How It Works:
- You can establish an irrevocable contract to prepay funeral and burial costs.
- These prepaid funds are considered exempt assets and will not be included in your Medicaid eligibility calculation.
- Funds can be used for a variety of funeral services, such as embalming, clothing, flowers, and more.
Planning Ahead:
- This plan not only helps protect your assets but also ensures that your family has peace of mind and will not have to make difficult decisions during a difficult time.
State-Specific Details:
- It’s important to work with a funeral director experienced in Medicaid spend down to confirm that funeral expenses are eligible for the spend down process.
- Medicaid caseworkers may review contracts to ensure they are fully funded.
How to Get Started:
- If you’re ready to plan ahead and protect your legacy, schedule a consultation with us to learn more about how you can prepay for funeral expenses.
Funeraria Hernandez goes over and beyond for families during this grievous time Their professionalism exceeds to excellence everyone who walks through their doors are given the utmost respect and professional services Thank God for Funeraria Hernandez