Spending down assets for Medicaid
cearbhaill (zone 6b Eastern Kentucky)
14 years ago
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cearbhaill (zone 6b Eastern Kentucky)
14 years agolast modified: 9 years agosushipup1
14 years agolast modified: 9 years agoRelated Discussions
Medicaid and Home Foreclosure
Comments (10)Raee - Actually, under Federal law "a person's home is an EXCLUDED resource in determining medicaid eligibility." Federal law trumps state laws when it comes to things like Medicaid...so the above statement is true in every state. HOWEVER, different states use different criteria to determine whether a person's house is their "HOME" (i.e., permanent residence) and your state may have more stringent requirements than others. In theory, if a person subjectively INTENDS to return to their home, then it remains their home - and therefore excluded from a Medicare eligibility determination regardless of how long the person is in the hospital or a nursing home AND regardless of whether the person has any real likelihood of ever really being able to return home. As long as the person says "I intend to return home someday" that should be sufficient to keep Medicaid from claiming that the house must be sold and the equity used to pay medical expenses. I'm linking to the best explanation I have been able to find online regarding how Medicaid looks at a house owned by a medicaid applicant. It is from the U.S. Department of Health and Human Services so should be reasonably accurate. Hope this is helpful. BTW - the eleven states that are 209(b) states mentioned in the linked article are Connecticut, Hawaii, Illinois, Indiana, Minnesota, Missouri, New Hampshire, North Dakota, Ohio, Oklahoma, and Virginia. Here is a link that might be useful: Medicaid's treatment of applicant's home......See MoreMy husband is addicted to spending
Comments (12)Thanks to all for your thoughtful and heartfelt responses. I think I already knew that at least one of us needed counseling; maybe it took hearing it from "strangers" to finally make the deicision to do so. I control the checkbook, pay the bills, etc. I show him each month how much our regular expenses are in a vain attempt to get him to realize that we are spending more than he brings in each month. While he seems to understand the concept of income vs. outgo, it makes no difference to his spending. He keeps telling me that when "we" retire, his air force pension and 401(k) from his workplace, plus social security, will give us plenty of money. I've run the numbers, and it's true - IF he can stop spending so much! It was also very helpful to hear someone say I was being an "enabling doormat". I always knew I was being a doormat, but the addition of the word "enabling" was startling - and so true. Gives me more incentive than ever. Even when you understand the reasons behind someone else's addition (and I understand very well why he does this), it's hard to deal with. Thanks again to all!...See MoreHow to spend Inheritance???
Comments (19)We are in the same boat and will work with a financial planner for the short term. The only difference is our house is already paid off and to me tha's a huge priority. Because you can lose money investments no matter how safe you think they are. Many thought Worldcom and Enron were safe companies, afterall, what can be safer than a communications and utility company, haha. Even steady companies like Lucent and Sun are at a small fraction of where they were. With a paid off house you'll always have a place to live, you'll always have the peace of mind that it's yours forever. Just remember, financial planners are great a history but can predict the future no better than you or your monkey (although it's been proven that monkeys are better at figuring which stocks to buy). Personally, I'm thinking of tax free bonds, a steady percentage that I'm not taxed at is huge for us as we have high taxable income. Also anything tax deffered is great for when we are pulling money out we can pay the lower rate (which is also not guaranteed, just the current law, just like SS payments are the current law)....See MoreHe mentions physical assets of other women..
Comments (27)My sympathies to you, Cube... yah, we all have a tendency to sell our souls to the devil for companionship, what the heck, that's how things work.. i think some men are encouraged by other men that this is cool way of talking.. (maybe to themselves, but they forgot we don't care to hear their editorial comments!)... my ex had a mild form of the same and he was SHOCKED that a colleague had gently ribbed him for being a sexist becuase he didn't think he was.... so if more guys would nudge each other to say "hey, that's NOT cool".. maybe it would happen less.. I get annoyed if I'm talking to a man and his eyes are roaming to every woman who is passing.... message I get is taht they are not listening to me... sometimes I will say something like "is everything ok? you seem distracted"... it's rude behavior.... a small amount of it, ok, i can also be distracted by things passing in the foreground, but it can get really distracting if you are trying to talk to someone who is totally distracted! The way I once handled a situation -- I had been told that if I was as pretty as this particular celebrity, then my guy would have bought me ten of the same type of cute baseball hat as she was wearing... I was shocked... I told him I expected the hat in the mail ASAP.... he never made another such remark again.. (it never worked out between us....and I don't feel bad about it)....See Moreraee_gw zone 5b-6a Ohio
14 years agolast modified: 9 years agomaime
14 years agolast modified: 9 years agobuttoni_8b
14 years agolast modified: 9 years agomama22doxies
13 years agolast modified: 9 years agofranceymargaret
11 years agolast modified: 9 years agojayokie
11 years agolast modified: 9 years agojayokie
11 years agolast modified: 9 years agoCA Kate z9
11 years agolast modified: 9 years ago
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