spend down

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spend down

, spend-down
The deliberate depletion of one's financial assets in order to meet the criteria for insurance support from Medicaid.
References in periodicals archive ?
When trying to figure out how to align their investment practices with their spend-down plans, some leaders faced the challenge of spending at the rate for which they had planned.
The Medicaid spend-down is similar to a deductible in commercial policies, but most clients must accrue the spend-down amount each and every month before their Medicaid is activated.
Therefore, the GAO report recommends that 401(k) sponsors expand their menu of spend-down options and follow the lead of the other nations in providing workers with more information on those options and how those funds could be converted into a steady income stream in retirement and for how long.
An infant who dies very quickly will not incur large charges, and thus the charges could well be low enough so that it does not make the initially uninsured patient eligible under Medicaid spend-down rules.
The state also promises to protect from spend-down an amount of patient assets equal to the amount of the benefit.
This includes postponing any spend-down of resources.
Federal and state regulations are described as they relate to income and asset eligibility, spousal impoverishment, exempt resources, spend-down options, Medicaid annuities, preserving the homestead from recovery, and the basic Medicaid appeals process.
The spend-down amount and the number of months in a quarter are determined by the state Medicaid agency and differ among recipients (Shi & Singh, 2001).
And (4) where necessary, it should show the family how prudent spend-down may be an appropriate option.
People who are partially insured or at higher income levels are usually given a spend-down requirement.
Finance Seminar for the special financial needs of seniors will cover reverse mortgages, living trusts, long-term care, Medi-Cal spend-down and annuity tax ``time-bombs'' and more, 12:30 p.
5) The 209(b) spend-down option makes Medicaid eligibility available to disabled persons of any income level in the same way as does a medically needy program.