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When my dad was moved to a Nursing Facility. we were lucky enough that our parents had saved enough to cover his room charges for several years, while he enjoyed a super nice room..paying out of pocket. However, once he started running out of money for that, we had to cash in all his life insurance policies (including mine and my sisters..as mom/dad had never thought about signing them over to us. They were the major people on the account/my sister and I being secondary, so we had to cash those out also..losing nearly $30,000 in life insurance coverage!!) Again, my husband and I bought his home..and only for market value..nothing above.
Granted, the extra money helped my dad to be able to stay in the very nice room at the Nursing Facility he was staying at; yet after he ran out of money; approved for Medicaid, they immediately moved him into a much smaller room..the day after!!
A word to the wise: No matter how healthy your parents are at the time..make sure to keep ALL receipts re their spending, health care expenses, etc. as Medicaid will want to see that when applying. In addition, keep on top of your States Medicaid rules, as some go back as far as 7-10 years before applying. I started a shoebox that I kept all my dad's medical bills in, all receipts, etc. In addition, since my husband and I bought his home..we kept all that information/receipts also. My advice is to not throw ANYTHING away, as if Medicaid needs it when one goes to apply for Medicaid re their elderly parent, you'll have it. Another word of advice when applying for Medicaid is to go in WITH ALL PAPERWORK ORGANIZED, as it will make the process go much smoother.
Be very careful re spending down to $2000 also, as Medicaid only allows any extra monies be spent on the individual (your elderly parent). This includes prepaid funeral expenses, which are allowed. At I mentioned earlier..all other monies have to either be spent on their medical care or in their best interest up to $45.00. If Medicaid sees any other monies spent, there WILL be a penalty that needs to be paid back...depending on what the Medicaid "look back period" is in your State. This period is soo very frustrating for most, if not all..as again, "Nobody has a crystal ball re when a parent may get ill and require Medicaid."
What stinks if what most have commented about. The fact that their parents saved all their lives in order to leave something for their children. Mine included. My dad told me once that my sister and I would have plenty of money to live off from, since he and Mom had saved all their lives for us. When he was no longer able to stay in his home due to a stroke, I found a super nice Independent Living Facility for him. While he didn't agree on something so nice (he wanted to save the money for my sister and I after he was gone..), I told him that he deserved it. He'd worked hard all his life and deserved to live in a nice place...so he should spend some of that retirement on himself. He absolutely LOVED the place..had his own one bedroom apt in in, etc. While it was sort of expensive ($2400/mo)..he deserved it!!
Back then I knew nothing about Medicaid and their "spend down" program, yet kept every receipt. As long as it's spent on the individual, there's no issue is what I found out later. However..Medicaid gets goofy re any monies spent on family, etc.
So glad he spent a bunch of money on himself, living comfortably in Assisted Living for a three years at the total amt of $28,800/yr
His retirement helped at $1900/mo..$22,800/yr and living from the money he and mom had saved.
Then came the nursing facility he eventually ended up at. $5200/mo!! Again..he was able to spend he and my mom's savings on himself, while paying out of pocket for a very nice room. While he lived to the nice old age of 88...he lived super comfortably on all the monies he wanted us girls to have. Suffering from Alzheimer's..thankfully he never knew where their money went..as he wouldn't have been very happy about that!! Day he was approved for Medicaid..again, he was moved to a much smaller room. A month later he passed away.
Sorry this is soo long. Just wanted everyone to know my story, as it's probably very similar to others. My advice is to spend any monies down on your aging parents. Hire a good Elder Atty..and save EVERYTHING re receipts, etc., as far back as you can.
When my dad was moved to a Nursing Facility. we were lucky enough that our parents had saved enough to cover his room charges for several years, while he enjoyed a super nice room..paying out of pocket. However, once he started running out of money for that, we had to cash in all his life insurance policies (including mine and my sisters..as mom/dad had never thought about signing them over to us. They were the major people on the account/my sister and I being secondary, so we had to cash those out also..losing nearly $30,000 in life insurance coverage!!) Again, my husband and I bought his home..and only for market value..nothing above.
Granted, the extra money helped my dad to be able to stay in the very nice room at the Nursing Facility he was staying at; yet after he ran out of money; approved for Medicaid, they immediately moved him into a much smaller room..the day after!!
A word to the wise: No matter how healthy your parents are at the time..make sure to keep ALL receipts re their spending, health care expenses, etc. as Medicaid will want to see that when applying. In addition, keep on top of your States Medicaid rules, as some go back as far as 7-10 years before applying. I started a shoebox that I kept all my dad's medical bills in, all receipts, etc. In addition, since my husband and I bought his home..we kept all that information/receipts also. My advice is to not throw ANYTHING away, as if Medicaid needs it when one goes to apply for Medicaid re their elderly parent, you'll have it. Another word of advice when applying for Medicaid is to go in WITH ALL PAPERWORK ORGANIZED, as it will make the process go much smoother.
Be very careful re spending down to $2000 also, as Medicaid only allows any extra monies be spent on the individual (your elderly parent). This includes prepaid funeral expenses, which are allowed. At I mentioned earlier..all other monies have to either be spent on their medical care or in their best interest up to $45.00. If Medicaid sees any other monies spent, there WILL be a penalty that needs to be paid back...depending on what the Medicaid "look back period" is in your State. This period is soo very frustrating for most, if not all..as again, "Nobody has a crystal ball re when a parent may get ill and require Medicaid."
What stinks if what most have commented about. The fact that their parents saved all their lives in order to leave something for their children. Mine included. My dad told me once that my sister and I would have plenty of money to live off from, since he and Mom had saved all their lives for us. When he was no longer able to stay in his home due to a stroke, I found a super nice Independent Living Facility for him. While he didn't agree on something so nice (he wanted to save the money for my sister and I after he was gone..), I told him that he deserved it. He'd worked hard all his life and deserved to live in a nice place...so he should spend some of that retirement on himself. He absolutely LOVED the place..had his own one bedroom apt in in, etc. While it was sort of expensive ($2400/mo)..he deserved it!!
Back then I knew nothing about Medicaid and their "spend down" program, yet kept every receipt. As long as it's spent on the individual, there's no issue is what I found out later. However..Medicaid gets goofy re any monies spent on family, etc.
So glad he spent a bunch of money on himself, living comfortably in Assisted Living for a three years at the total amt of $28,800/yr
His retirement helped at $1900/mo..$22,800/yr and living from the money he and mom had saved.
Then came the nursing facility he eventually ended up at. $5200/mo!! Again..he was able to spend he and my mom's savings on himself, while paying out of pocket for a very nice room. While he lived to the nice old age of 88...he lived super comfortably on all the monies he wanted us girls to have. Suffering from Alzheimer's..thankfully he never knew where their money went..as he wouldn't have been very happy about that!! Day he was approved for Medicaid..again, he was moved to a much smaller room. A month later he passed away.
Sorry this is soo long. Just wanted everyone to know my story, as it's probably very similar to others. My advice is to spend any monies down on your aging parents. Hire a good Elder Atty..and save EVERYTHING re receipts, etc., as far back as you can.
Medical care is expensive. Medicaid consumes a big chunk of the federal budget.
I am all in favor of the Medicaid recipient's estate first being exhausted before it kicks in at all. As much of the medical care as possible should be paid for by their estate before the taxpayers have to kick in. If nothing is left for the family to inherit.....well that doesn't bother me.
Medical care is expensive. Medicaid consumes a big chunk of the federal budget.
I am all in favor of the Medicaid recipient's estate first being exhausted before it kicks in at all. As much of the medical care as possible should be paid for by their estate before the taxpayers have to kick in. If nothing is left for the family to inherit.....well that doesn't bother me.
Agreed. “Leaving something for the kids†is SECONDARY to paying for your own care.
When my dad was moved to a Nursing Facility. we were lucky enough that our parents had saved enough to cover his room charges for several years, while he enjoyed a super nice room..paying out of pocket. However, once he started running out of money for that, we had to cash in all his life insurance policies (including mine and my sisters..as mom/dad had never thought about signing them over to us. They were the major people on the account/my sister and I being secondary, so we had to cash those out also..losing nearly $30,000 in life insurance coverage!!) Again, my husband and I bought his home..and only for market value..nothing above.
Granted, the extra money helped my dad to be able to stay in the very nice room at the Nursing Facility he was staying at; yet after he ran out of money; approved for Medicaid, they immediately moved him into a much smaller room..the day after!!
A word to the wise: No matter how healthy your parents are at the time..make sure to keep ALL receipts re their spending, health care expenses, etc. as Medicaid will want to see that when applying. In addition, keep on top of your States Medicaid rules, as some go back as far as 7-10 years before applying. I started a shoebox that I kept all my dad's medical bills in, all receipts, etc. In addition, since my husband and I bought his home..we kept all that information/receipts also. My advice is to not throw ANYTHING away, as if Medicaid needs it when one goes to apply for Medicaid re their elderly parent, you'll have it. Another word of advice when applying for Medicaid is to go in WITH ALL PAPERWORK ORGANIZED, as it will make the process go much smoother.
Be very careful re spending down to $2000 also, as Medicaid only allows any extra monies be spent on the individual (your elderly parent). This includes prepaid funeral expenses, which are allowed. At I mentioned earlier..all other monies have to either be spent on their medical care or in their best interest up to $45.00. If Medicaid sees any other monies spent, there WILL be a penalty that needs to be paid back...depending on what the Medicaid "look back period" is in your State. This period is soo very frustrating for most, if not all..as again, "Nobody has a crystal ball re when a parent may get ill and require Medicaid."
What stinks if what most have commented about. The fact that their parents saved all their lives in order to leave something for their children. Mine included. My dad told me once that my sister and I would have plenty of money to live off from, since he and Mom had saved all their lives for us. When he was no longer able to stay in his home due to a stroke, I found a super nice Independent Living Facility for him. While he didn't agree on something so nice (he wanted to save the money for my sister and I after he was gone..), I told him that he deserved it. He'd worked hard all his life and deserved to live in a nice place...so he should spend some of that retirement on himself. He absolutely LOVED the place..had his own one bedroom apt in in, etc. While it was sort of expensive ($2400/mo)..he deserved it!!
Back then I knew nothing about Medicaid and their "spend down" program, yet kept every receipt. As long as it's spent on the individual, there's no issue is what I found out later. However..Medicaid gets goofy re any monies spent on family, etc.
So glad he spent a bunch of money on himself, living comfortably in Assisted Living for a three years at the total amt of $28,800/yr
His retirement helped at $1900/mo..$22,800/yr and living from the money he and mom had saved.
Then came the nursing facility he eventually ended up at. $5200/mo!! Again..he was able to spend he and my mom's savings on himself, while paying out of pocket for a very nice room. While he lived to the nice old age of 88...he lived super comfortably on all the monies he wanted us girls to have. Suffering from Alzheimer's..thankfully he never knew where their money went..as he wouldn't have been very happy about that!! Day he was approved for Medicaid..again, he was moved to a much smaller room. A month later he passed away.
Sorry this is soo long. Just wanted everyone to know my story, as it's probably very similar to others. My advice is to spend any monies down on your aging parents. Hire a good Elder Atty..and save EVERYTHING re receipts, etc., as far back as you can.
... What stinks if what most have commented about. The fact that their parents saved all their lives in order to leave something for their children. Mine included. My dad told me once that my sister and I would have plenty of money to live off from, since he and Mom had saved all their lives for us. When he was no longer able to stay in his home due to a stroke, I found a super nice Independent Living Facility for him. While he didn't agree on something so nice (he wanted to save the money for my sister and I after he was gone..), I told him that he deserved it. He'd worked hard all his life and deserved to live in a nice place...so he should spend some of that retirement on himself. He absolutely LOVED the place..had his own one bedroom apt in in, etc. While it was sort of expensive ($2400/mo)..he deserved it!!
Can you please explain why it "stinks" that your father's estate was used to pay for his own care? Obviously you wanted him to leave you money (from your recent posts AND at least one of your old ones from 2015, post #26 in this thread), which means it stinks for YOU personally because you didn't get the inheritance you wanted, and I understand that, but there's never a guarantee of that.
I think it would stink MORE for TAXPAYERS to have to pay for his care because he left his kids an inheritance. Can you please explain why taxpayers should have had to pay for his Medicaid so that you could be left money? I'm not being sarcastic in asking that; I've just asked it several times and no one who has this complaint ever seems to answer it.
=====
ETA: I see that other posters asked you the same questions from your earlier posts (from years ago). You didn't answer then, either. No one ever does.
Last edited by karen_in_nh_2012; 06-14-2021 at 01:00 PM..
Reason: add more info after reading this entire thread
My mother suffered a mild stroke in 2012, and I've taken care of her ever since in my home. Does nearly ten years of being her sole caregiver make a difference regarding Medicare benefits if I ever need home health aids to help me care for her?
My mother suffered a mild stroke in 2012, and I've taken care of her ever since in my home. Does nearly ten years of being her sole caregiver make a difference regarding Medicare benefits if I ever need home health aids to help me care for her?
I am very sorry about your mother, but your question has nothing to do with this thread. Please start your own thread and I expect that knowledgeable posters will reply.
I am very sorry about your mother, but your question has nothing to do with this thread. Please start your own thread and I expect that knowledgeable posters will reply.
Maybe I am headed for the same answer as WP169.
Since my wife now 85 has had dementia for the past 18 months and is handlng it pretty well.I have to cook,do wash etc.Her short term memory is one hundred percent zero.
I have printed out what to expect if it got to point of needing Medicaid with the state of Ct,they have a 5 year look back.
If I were to pass first she would lose my pension and Medicare Advantage,our savings are minimal,never thought she would get dementia and myself having had triple bypass,Cardioligist this past week said heart looks rock solid,quote,I am 88.
I would like to talk to elder care attorney but am afraid of being ripped off.We have no one left to talk to.
We have all paper work done and paid for funeral expense.
The attorney who did each of our wills said we will never need probate.
I do believe my wife if I pass first will need Medicaid help.
After this long story I was wondering what to expect for elder care attorney cost?
Maybe I am headed for the same answer as WP169.
Since my wife now 85 has had dementia for the past 18 months and is handlng it pretty well.I have to cook,do wash etc.Her short term memory is one hundred percent zero.
I have printed out what to expect if it got to point of needing Medicaid with the state of Ct,they have a 5 year look back.
If I were to pass first she would lose my pension and Medicare Advantage,our savings are minimal,never thought she would get dementia and myself having had triple bypass,Cardioligist this past week said heart looks rock solid,quote,I am 88.
I would like to talk to elder care attorney but am afraid of being ripped off.We have no one left to talk to.
We have all paper work done and paid for funeral expense.
The attorney who did each of our wills said we will never need probate.
I do believe my wife if I pass first will need Medicaid help.
After this long story I was wondering what to expect for elder care attorney cost?
Your story is heartbreaking, and is more relevant to this thread (and again, I was really, really not trying to be rude to the other poster, but that post had nothing to do with the Medicaid 5-year look-back, which is the subject of this thread -- which is why I suggested that he start his own thread).
I really do wish you luck.
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