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Old 02-20-2014, 12:47 AM
finz finz is offline
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Join Date: Feb 2007
Posts: 1,804
15 yr Member
finz finz is offline
Senior Member
 
Join Date: Feb 2007
Posts: 1,804
15 yr Member
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Quote:
Originally Posted by Brambledog View Post
The estate claim thing is a bit scary - if the state Medicaid has a claim on your estate, they should be upfront about that from the word go. Scary when you think how many families must be losing a loved one and then realising there's nothing left to inherit because Medicaid came along and nabbed the lot.

If Medicaid has a claim on the estate, the person who used Medicaid services and their spouse has been made aware of that. In some families they might choose not to share that info with the rest of the family.

Medicaid benefits were designed for the very needy. If the patient has significant assets, like a home, Medicaid allows them to get the needed care without having to sell their home to pay for care while they are still living in the home.

There are some protections in place to protect some assets for the spouse of the patient. My mom will probably need to go to a nursing home soon. That care averages $100,000 a year. My parents can pay for that for a short time, but certainly not for 20 years. When her free cash runs out, she will transfer to Medicaid to pay for the nursing home. Medicaid will not place a lien on the house, forcing my dad out, because the total value of the house is less than $800,000. That amount buys a pretty nice house around here. He has a friend from his caregivers support group who is dealing with a Medicaid lien on his house for his deceased wife's nursing home care because their house is worth $1.5 million. A spouse is also allowed to keep (in my state) $114,000 in cash of the shared assets.
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Gee, this looks like a great place to sit and have a picnic with my yummy bone !
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"Thanks for this!" says:
moosey2me (02-23-2014)