medicaid
I was wondering if anyone could help me with this? i am getting different stories from elder care attorneys.
husband & wife, limited assets, pay as you go in the assited living unit. The company has promised to pay for them after their assets run out, but in the meantime, wife might have go into nursing side quicker than thought.
If i use the wife’s assets to pay the down payment in an asssited living (life care) unit, and the wife has to go into the nursing home unit.
will medicaid divide the assets that are and have been in the husbands name for over 20 years?
or
will they only ask for half of the down payment given from her assets from the husband before they will pay for the nursing home?
any other help or suggestions would be greatly appreciated.
Sincerely,
Douglas
Permalink Submitted by Bob Anderson on Sun, 2008-03-02 13:13
[quote=”[email protected]“]I was wondering if anyone could help me with this? i am getting different stories from elder care attorneys.
husband & wife, limited assets, pay as you go in the assited living unit. The company has promised to pay for them after their assets run out, but in the meantime, wife might have go into nursing side quicker than thought.
If i use the wife’s assets to pay the down payment in an asssited living (life care) unit, and the wife has to go into the nursing home unit.
will medicaid divide the assets that are and have been in the husbands name for over 20 years?
or
will they only ask for half of the down payment given from her assets from the husband before they will pay for the nursing home?
any other help or suggestions would be greatly appreciated.
Sincerely,
Douglas[/quote]
Regardless of intended use…once a spouse applies for Medicaid [u]any [/u]monies in [u]any [/u]account with her name on it, in [u]any [/u]form, becomes ALL her money….WITH a 36-month look back for gifts and other unusual disbursements. This is to protect the poor’ol government.
Permalink Submitted by [email protected] on Mon, 2008-03-03 20:00
so if i use the wifes money to make the down payment, medicaid shouldn’t be able to touch any of his money that has been in his name for over 5+ years? correct. yes or no?