Introduced
by
To establish a state “estate preservation fund” to cover the cost of long term nursing home care. Money in the fund would come from a voluntary $360 assessment levied by mortgage companies, which could be paid up front or over up to a 10 year period by a borrower. If an homeowner was enrolled in this program and later was admitted into a nursing home paid for by the Medicaid program for low income persons, the individual’s home would exempt from “Medicaid estate recovery,” which is required by federal law, and is intended to prevent individuals with substantial assets from shifting their nursing home expenses to taxpayers via Medicaid.
Referred to the Committee on Appropriations
