Reverse Mortgages a Medicaid Resource
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| George A. Downey is president of Harbor Mortgage Solutions in Braintree. He can be contacted by e-mail at gdowney@harbormortgage.com. |
By George A. Downey
An epic struggle is brewing in Massachusetts and other states between state administrators and a growing number of seniors. The central issue is the state’s obligation to recover the mushrooming costs of benefits it pays for long-term care needs of seniors. Federal Medicaid grants to states are the fifth-largest federal budget item after Social Security, defense, federal debt and Medicare. In some states Medicaid is the second- or third-largest budget expense.
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