Persons who need ALTCS who are also married to a spouse still living in the community get to use the rules referred to as “Community Spouse” rules. These rules entitle the couple to retain a greater share of the assets and still potentially qualify for the program. BUT ALTCS has to make a spousal resource deduction (CSRD) determination at the first continuous period of institutionalization (FCPI).
What does FCPI mean? It is the first continuous period of time the person who needed long term care actually received care. It can be…
- 30 consecutive days in a facility (hospital, nursing home, rehab center)
- 30 days receiving care in an assisted living setting
- 30 days receiving home-based services
However, for those in assisted living and/or receiving home-based care, ALTCS must determine if these meet the definition of needing long term care.
IF the couple does not request this assessment through ALTCS (called a “resource assessment”) at the FCPI, then it could affect the amount the spouse gets to keep when they are ready to apply for ALTCS.
It can also be difficult to obtain documentation of the asset values if the spend down takes longer than 5 years. Most financial institutions only keep records for 7 years.
Don’t delay – If you have a FCPI, request your resource assessment (CSRA) today. Better yet – work with us to help you get the maximum spousal deduction you’re entitled to.
2017 minimum CSRD = $24,180 | 2017 maximum CSRD = $120,900
Contact us at 480-464-4968
Article written by Carol Aragon-Montgomery