DOMA, Medicaid, and Asset Transfers
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Transcript of DOMA, Medicaid, and Asset Transfers
DOMA, MEDICAID & ASSET TRANSFER RULES
THE SUPREME COURT RULED GAY MARRIAGES
ARE LEGAL
That, along with the new healthcare laws that are soon to be in full effect,
there's a lot to take in when it comes to asset transfer rules, benefits, estate planning and, of course, Medicaid
That, along with the new healthcare laws that are soon to be in full effect,
there's a lot to take in when it comes to asset transfer rules, benefits, estate planning and, of course, Medicaid
The Social Security Administration (SSA) and the Veteran's Administration (VA) have begun issuing guidance for same-sex marriages
Spouses of same sex military veterans may also collect veteran's spousal
benefits
There remain some INCONSISTENCIES
Claims are still being held by Social Security offices for some who were legally married, but who lived in states where their
marriages weren't recognized
As a result, those claims are in a
STATE OF SUSPENSION
The Veteran's Administration is now providing benefits to spouses in same sex marriages, as well
Department of Health and Human Services announced it too would allow states to
extend the long term care protections to those in same sex marriages and
partnerships
A nursing home resident must spend down to $2,000 - depending on which state the resident resides
The spouse not in the nursing home, referred to as a “community spouse”
is entitled to keep $110,000
For couples not married, the asset limitations aren't applicable
The partner not in the nursing home will keep all of his or her assets with no fears of jeopardizing a partner's medical treatment
Learn More About DOMA, Medicaid & Asset Transfer Rules
in Vermont