Financial Tip of the Week: Medi-Cal Spend Down Rules by Financial Expert, Steve Sexton

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The San Diego Entertainer’s own financial expert, Steve Sexton, provides the Channel 6 San Diego Living Show with a financial tip every Tuesday. We are thankful to be able to share his financial expertise with our readers in the youtube clip below.

This week on the San Diego Living Show, Steve Sexton talks about the Medi-Cal “Spend Down Rules” using the scenario of one spouse entering a nursing care facility while the other spouse, staying at home, is unable to pay for the long term care expense.

If Medi-Cal is applied in this situation, Sexton says it will allow the spouse at home to keep the house, one car and the burial fund but require the couple’s remaining assets to be separated half-and-half equally.  The spouse in the nursing facility would be required to “spend down” their assets to $4,000 in the state of California, while the spouse at home would need to “spend down” to $90,000.

In planning ahead, Sexton advises viewers today to look at their income streams (pensions and social security) and determine if they will provide enough money for both spouses if long term care needs arise.  If not, Sexton says assets may need to be moved into “income-guaranteed strategies.”

He also encourages viewers to plan ahead for their long term care needs.  Ask yourself:  Will my spouse and I need disability insurance?  Will we need short term care?

Sexton suggests looking at your annuities to find out what benefits they are providing as the right annuities can protect your assets.

Be sure to watch Steve Sexton below as he gives further insight on Medi-Cal and planning ahead.

Steve Sexton is a financial expert who personalizes each individual’s financial plan on their unique circumstances and goals. He has over 15 years experience in the financial services industry and holds multiple licenses and designations including being a Better Business Bureau member and a National Ethics Bureau Member.

If you would like to learn more about securing your financial wealth and freedom, planning for your retirement or to reserve a spot in one of Sexton’s free financial workshops you can visit Or you can reach the Sexton Advisory Group by contacting Steve Sexton at or by calling 951-695-8810.

Don’t forget to watch Steve Sexton on the Channel 6 San Diego Living Show every Tuesday for more financial tips!

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