Medicaid question re nursing home eligibility
My 80 yr old mother was admitted into a nursing home 3 weeks ago and probably will be there for the rest of her life. My dad is still in their home. They were benefactors of my brother’s life insurance policy and he died suddenly one year ago. Can this be counted in my mother’s assets on the Medicaid application?
Terry Says
Were they BOTH named as beneficiaries? Or only your father? He could have kept an inheritance separate, and perhaps avoided the overall asset calculation that is done before the state approves Medicare. And if there is a mortgage on the home he will remain in, the mortgage could be paid off with the money (although the state might eventually come back and demand repayment of benefits after his death) because the “outside spouse” can stay in the family home. Otherwise, family assets are strictly limited before Medicaid will take over the cost of care.
You can read more about the process here.
And here is a great link to the asset limits and determinations for Medicare in 2021.
Pardon me, but I do want to say something important — something I have said for years, but is now very apparent — about Medicaid nursing homes. I have always said that is NOT the place you would choose to spend your last years or months. And I say that with all due respect to the people who work there. The state of Illinois, especially, has severely underfunded these programs.
I don’t now your mother’s life expectancy, but ifyou can use this inheritance to get her the best care in a private nursing home (moving to a Medicaid floor when the assets run out), YOU will sleep a lot better for the rest of your life!
