A warning for those whose LTC plan consists of spending down to qualify for Medicaid

[Willistonite]

Originally Posted by Lastfire

Well, I may be one of the "fools" addressed in this thread. My DH developed dementia at a very early age....long before retirement age. So here we are 14 yrs later and DH has absolutely no medical issues. He will probably outlive me by 10 yrs. So long term care in a memory unit will be $80k per year for 10 yrs....guess he will end up in a medicaid facility. Does that mean we are stupid? Or that we should have divorced (49+yrs) or that I should somehow become super old lady and handle this 235 lb dementia man? Those of you who have had breaks in life go your way, good for you. But sometimes we fools need a little help from the "old U.S. government."

Your situation is exactly where the government should help, not to people that hide their money so they can go on Medicaid and still have their money.

[mathjak107]

few HIDE their money . the laws are very clear about the tools and laws left in place when it comes to preserving assets .

they are left in place so states do not end up with two people on public assistance when the stay at home spouse is impoverished too .

these laws and tools are purposely left in place the same as our tax laws which let us all pay the lowest amount of taxes we legally are smart enough to figure out we have to pay.

it would be all to easy to do away with these laws but the truth is states do not want to be filled with poor seniors.

that is why states are doing a lot with partnership plans that allow medicaid to pay the bills and yet preserve both income and assets for stay at home spouses .