Arizona Long Term Care System
ALTCS Financial Requirements
Financial Eligibility
ALTCS applicants must meet the following general criteria before ALTCS will begin the financial assessment:
ALTCS applicants must meet the following general criteria before ALTCS will begin the financial assessment:
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The financial requirements are much more complex than the general eligibility criteria, and it is not uncommon for applicants to struggle with this portion of the eligibility process. Applicants who pay strict attention to detail and successfully demonstrate that they do not exceed the income and asset limits, however, many can complete this portion of the process on their own. Nevertheless, many applicants reach out to professionals who can help them arrange their financial affairs.
The financial assessment involves a close inspection of applicants’ income and assets with a five (5) year look back period of all assets, both of which must fall below a specified amount. Importantly, income and asset limits are based on an applicant’s marital status. Rules are quite different for married and single applicants.
The financial assessment involves a close inspection of applicants’ income and assets with a five (5) year look back period of all assets, both of which must fall below a specified amount. Importantly, income and asset limits are based on an applicant’s marital status. Rules are quite different for married and single applicants.
Income
Whether applicants are married determines the amount of income they can receive under ALTCS rules. Single applicants cannot have more than $2,250 monthly income. Likewise, married applicants applying for the benefit alone are limited to $2,250 monthly income, and their spouse’s income is not considered. Married applicants applying together, however, can have up to $4,500 monthly income under ALTCS rules. These limitations are effective for 2018, and are reviewed each year. An ALTCS experienced Elder Law attorney should be able to help individuals be successful with their applications and obtain eligibility.
Whether applicants are married determines the amount of income they can receive under ALTCS rules. Single applicants cannot have more than $2,250 monthly income. Likewise, married applicants applying for the benefit alone are limited to $2,250 monthly income, and their spouse’s income is not considered. Married applicants applying together, however, can have up to $4,500 monthly income under ALTCS rules. These limitations are effective for 2018, and are reviewed each year. An ALTCS experienced Elder Law attorney should be able to help individuals be successful with their applications and obtain eligibility.
Individuals who would like to apply for the ALTCS benefit, but whose income is too high, might be able to establish a Miller/Income-only trust to help them qualify. Like other types of trusts, Miller/Income-only trusts must comply with strict legal formalities to be valid. Applicants whose income exceeds the limit should consult with a professional for guidance about whether this strategy could help them qualify. The fear of being over the income limit shouldn’t keep individuals from applying for ALTCS. There are ways to help.