Preparing an application

Missed months of eligibility is the bane of every BOM’s existence. Tracking asset limits and clinical levels can get detailed and confusing. All too often updates are received too late and a resident’s application and spend down doesn’t happen in time. Obviously aidace can help you keep track of all these details for advance preparation but rather than tooting our own horn, today we’re getting practical.

Here are some simple tips on when to apply for Medicaid and how to submit a complete application for a faster approval.

Check out our blog on spend down tips for the full game plan. 

When to prepare a resident’s Medicaid application:

1. Obviously, it's ideal to begin gathering the relevant information as soon as a resident admits. Our family letter found in resources can help get family’s cooperation and preparation right from the start.
2. In reality that isn’t always possible but we do recommend submitting an incomplete application with all the information you have as soon as you get notice that Medicaid may be needed. It's always smart to have an application holding the date and you can always resubmit a complete one later on.  

Tips for Prepping Documents for State Verification Submission:

Review Verification Documents:

1. Before you hit that submit button, take a moment to put yourself in the shoes of a caseworker. Go through each verification document with a fine-tooth comb. Pay special attention to the effective dates of premiums on Supplemental Insurance Verification documents. Make sure all months of coverage are included, so you get accurate patient liability calculations.

Ensure Comprehensive Life Insurance Verification:

2. When it comes to life insurance verification, you want to be as thorough as possible. Double-check that you've got the Face Value, Cash Value, Policy Type (Term or Whole Life Insurance), Policy Owner, and Beneficiary all squared away. Keeping these documents organized and up to date will make your life easier when it's time to submit.

Review Pre-Need Burial Agreements:

3. Let's talk about those Pre-Need Burial Agreements. It's important to ensure they have the right verbiage required by the State Medicaid policy to exclude burial assets. This includes ensuring that the Goods & Services Contract is Irrevocable with all assignments provided. 

Gather Comprehensive Financial Information:

4. You can't overlook the financial side of things. Gather all the necessary documentation and make sure you have explanations for any transactions that might raise eyebrows. When you submit the verification documents to the Department of Human Services (DHS), provide an explanation either in a separate Word document or by adding comments or annotations directly on the paperwork. It's all about making it crystal clear for the caseworker.

Track Income Information and QIT:

5. Don't let income information slip through the cracks, especially if you're in an Income Cap State. Keep tabs on Qualified Income Trust (QIT) documents and make sure they meet state Medicaid policy guidelines including a named beneficiary. These little details matter, and staying on top of them will really save time in the long run.

Always here to help. Reach out to discover why over 649 facilities are using Aidace software to get more Medicaid approvals in less time. Get all the details at www.aidace.com