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ALTCS Financial Eligibility Guidelines
Resources
For single individuals:
Does the member have less than $2000.00 in assets?
For couples:
Does the member and his/her spouse have less than $22,728.00* (for year 2012) in combined assets?
Income
For single individuals:
When you add together the Social Security and all other monthly pensions, is the total less than $2094.00** (for year 2012)?
For couples: When you add together both Social Security pensions and all other monthly pensions, is the total less than $4188.00** (for year 2012)?
Transfers
Has the member given away money or assets that he/she could have used to help pay for his/her care?
If so, ALTCS may impose a period of ineligibility (a specific period of time where the member would not qualify for full long term care benefits).
*There are separate guidelines for couples who can verify marital status.
In some instances, the "well" spouse is able to retain half*** of the total resources owned at the time the other spouse began needing long term care services.
***The half can be at least $22,728.00 (for year 2012), but cannot exceed $113,640.00 (for year 2012).
**If the income exceeds these numbers, an applicant may qualify with an
Income-Only Trust (AKA: Miller Trust) as long as all other ALTCS eligibility factors met.
Resources are cash or other real or personal property that an individual owns, which can be used to meet the needs of food, clothing or shelter.
Definition of "Income"
Anything received by an individual which can be used to obtain food, shelter, or clothing. Income can be received daily, weekly, bi-weekly, semi-monthly, monthly, quarterly, semi-annually, or annually. Other types of frequencies exist but are less often seen.
Definition of "Transfers"
All items of value (assets or income) that are sold, traded, transferred, or given away whether or not the client received full compensation for the item.
ALTCS Planning.net is not affiliated with AHCCCS / ALTCS / VA.
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The information on this website is provided "as is" for general information purposes only. The content of this website may not be comprehensive, up-to-date, or applicable in all jursdictions. The content may not reflect the views of Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) and Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) makes no warranty of any kind, whether express or implied, with respect to any information provided on this website. Montgomery & Associates, Inc. (DBA: ALTCS Planning.net) assumes no liability for any errors or omissions in the content on this website and the information provided is not to be construed as legal advice. The information is intended to provide a general, factual overview of legal documents and planning options available. For legal matters you should always seek counsel of a qualified attorney licensed in your jurisdiction. Use of any information on this website is at your own risk.
**IMPORTANT NOTICE**
Our CLDP, Carol Aragon-Montgomery, prepares legal documents.OUR CLDP IS NOT AN ATTORNEY AT LAW AND IS NOT EMPLOYED BY ATTORNEYS AT LAW AND CANNOT GIVE LEGAL ADVICE.Your communications with our CLDP are kept CONFIDENTIAL by our CLDP, but since our CLDP is not an attorney at law, such communications are NOT PRIVILEGED (i.e., immune from Subpoena). Our CLDP can give you general factual information pertaining to legal rights, procedures, or options available to you in a legal matter when you are not represented by an attorney.Our CLDP cannot give you specific legal advice, opinions, or recommendations about your legal rights, remedies, defenses, options, or strategies. Please note that the Long Term Care Planning Services are of a financial planning nature and are not specific "legal" advice. Prices subject to change without notice.
