Reverse mortgage impact on senior med program?

We own our home. Have no debts. Payoff our charge cards monthly. Our only income is Social Security. My husband has an Roth IRA annuity of $44,000. Which we use to pay our real estate taxes. We are 72. We’ve decided to apply for a Reverse Mortgage. I have Multiple Sclerosis and qualifiy to get my $5k per mo. medicine for free because of low income. I know that an RM doesn’t count as income but Will a RM affect my ability for free medicine?

Terry Says:  This is a good question, and I want to make sure that you get the right answer.  A reverse mortgage is a tax-free return of your own investment, so it is not reported as income on your tax return.  However, I think you should ask the specific government program whether they would consider this as income for qualifying for your medicines.  And I would like it if you would write back to me with the answer they give you.  (And if you say that it IS being counted against you, I will pass that on to my friends at NRMLA — the Reverse Mortgage association –so maybe they can put some pressure on government to change this!)  So please let me know —