Follow
Share

My uncle is single 65+ and currently in a nursing home in state of New York. The Medicaid process has began and is almost complete, but I'm curious on a few things. I understand he's allowed $14,850 in an account. What happens to his monthly pension? Does that go directly to Medicaid? Does he get to have any monthly income?


Right now he has a savings account with $8,000 in it, is that going to be lost money? Is there anything I can do to pull out that $ or do something so he doesn't lose it? I know they have a 5 year look back period. Do they have a dollar amount they look for, like say anything over $1,000?


We do have a senior planner and I do plan to ask bunch of questions, but it's of course the weekend and she won't be in until Monday. Thanks!

This question has been closed for answers. Ask a New Question.
The money he has will be designated for his care, as it should be. Do not move it. He would be penalized for a number of months equal to the amount that has disappeared. Someone else will then have to cover the cost of that care. For example, home cost is $6,000.00 a month. He has $60,000.00 that is moved, hidden, taken, Medicaid will not pay for ten months. That money would have to be repaid before Medicaid will.

Would the stress of moving the money really be worth it? I don't think so. It will be found and then even the chance of criminal charges. Medicaid will permit a small allowance to him each month.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter