Tag Archives: The real threat to our long-term financial health

Worried about the 35% estate tax? That’s peanuts! How about the 100% “Medicaid tax”? For years, clients have been very concerned about the estate tax. I have reassured them that the estate tax will not impact you unless you have more than $5 million for individuals and $10 million if you’re married. Now contrast that to the cost of what I call the “Medicaid tax.” The “Medicaid tax” is the government’s requirement that you spend your assets down to $2,000 (as a single person) before you get any Medicaid help for your custodial care or long- term care, either in …