There are two different factors that go into ALTCS qualifications. The first is the medical evaluation and second is the financial. Both have several things to consider and prepare for before beginning. In regards to the medical evaluation it is helpful to have the condition(s) completely documented.
Medical Component of the ALTCS Qualifications
When looking at ALTCS qualifications, conditions such as risk of falling, dementia, Alzheimer’s, not being able to perform ADLs (activities of daily living) are all taken into account. However, in regards to dementia and Alzheimer’s a formal diagnosis from a neurologist is recommended and often required. If you have questions in regards to this, feel free to fill out the information request and one of our agents would be more than happy to go through the requirements. The medical evaluation is done on a 60 point scale and there are many ways to get points for conditions.
Financial Component of the ALTCS Qualifications
With the financial component of the ALTCS qualifications, there can be up to a 5 year look back period in regards to personal spending, bank account statements, monthly income and asset ownership. At the very least they are going to require a current statement of assets, income verification, cash available in checking and savings and a statement of assets such as ownership of a house. Give us a call if you have any questions in regards ALTCS qualifications and one of our representatives can let you know if/how to qualify. Transferring assets can affect qualification and therefore before you transfer any assets it is important to understand the repercussions of transferring them.