Not enough savings? Here's how the "spend down" option works to access Medicaid

AI Briefing

• – Key point: The 'spend down' option allows individuals to access Medicaid for long-term care costs by reducing their assets to a certain level.
• – This process involves paying for certain expenses, such as in-home care, until the individual's assets fall below the Medicaid eligibility threshold.
• – Eligible individuals can then use the remaining assets to cover long-term care costs, such as nursing home care or assisted living expenses.