Introduced by Sen. Deborah Cherry (D) on June 28, 2007, to establish a state “estate preservation fund” to cover the cost of long term nursing home care. Money in the fund would come from a voluntary $360 assessment levied by mortgage companies, which could be paid up front or over up to a 10 year period by a borrower. If an homeowner was enrolled in this program and later was admitted into a nursing home paid for by the Medicaid program for low income persons, the individual’s home would exempt from “Medicaid estate recovery,” which is required by federal law, and is intended to prevent individuals with substantial assets from shifting their nursing home expenses to taxpayers via Medicaid.
Referred to the Senate Appropriations Committee on June 28, 2007.
1) Estate Recovery by Anonymous Citizen on July 31, 2007 Sen. Deb cherry's proposal is a tax on the poor and middle classes to the fund the rich who artificially impoverish themselves through elder care attorneys. These attorney's and schemes are too expensive for the poor and middle class who can't afford them. The trick is to dump the cost of care for the rich onto the taxpayer. They put huge additions on their homes or buy huge new homes to shelter big gobs of money. Then tax the people to pay for their care. This is a typical rip off of the taxpayer to appeal to the special interest eldercare attorneys.
2) 2007 Senate Bill 627 (Establish Medicaid “estate recovery preservation fund” ) by admin on January 1, 2001 Introduced in the Senate on June 28, 2007