Eldercare and Special Needs Planning

Free CFP Exam lesson in Retirement Savings and Income Planning. 16 min read, ~2,333 words.

Medicare is federal, not means-tested, and does not cover long-term custodial care. Medicaid is means-tested and does. Medicaid asset limit: ~$2,000 single. Community Spouse Resource Allowance: ~$154,140 (2026). Five-year lookback: gifts within 60 months of application trigger a penalty period. Penalty starts at eligibility, not at the gift date. First-party...