What is a Medicaid spend-down plan?

A Medicaid spend-down plan is an important part of Elder Law in North Carolina. It is a way for elderly individuals to obtain Medicaid coverage even if their income is too high for Medicaid eligibility. Under this system, the elderly person must spend down their income and assets on their medical care before Medicaid is available. This means that the elderly person has to use their own funds to cover the costs of their medical expenses. Once the person has reached the spend-down level, they can qualify for Medicaid coverage. The spend-down amount may vary between different states, though in North Carolina it is generally equal to the current year’s Federal Poverty Level. In order to qualify, the elderly person must meet all of the Medicaid eligibility requirements, including income and residency. Once the spending threshold has been met, the person can apply for Medicaid and receive coverage for their medical care. Medicaid spend-down plans are helpful for those elderly individuals who are struggling to cover their medical expenses but whose income is too high to qualify for traditional Medicaid benefits. This system allows them to apply for Medicaid coverage, making the necessary medical care and treatment available to them. As such, a Medicaid spend-down plan is an important part of Elder Law in North Carolina.

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What is a Medicaid spend-down plan?

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