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Our Medicaid provider drops us when our stock portfolio goes over $1,500,saying we no longer qualify because we have too much money...How do we save up for the future.Is there some kind of loophole.
Sorry you can't "save up for the future" when you are needing help from the government to live in the present.
I know people have tried to beat the system by doing unlawful things to hide their savings but it cost them more in the long run when they got caught. Wouldn't be worth the risk to me.
There is a steep drop-off for anyone trying to get off medicaid, which , depending on your point of view is a flaw or a feature. Medical care costs can easily run far more than the ability of a person marginally able to work to repay, and the loss of medicaid can be a devastating blow, both physically and financially. AFAIK, the only assets a person on medicaid can have that exceed the threshhold are a medically required auto, and a home. That information is over twenty years old though, so the rules may have changed. I doubt you could get a home, but you could upgrade an auto. As the other poster said, don't even think about trying to beat the system.
I've been around folks that had to rely on medicaid. The existence is hand to mouth, often with a lot of pain and little joy. The despair of the poverty makes recipients want to work their way out of it, but their health and the medical bills and the system work to keep them on it. Tis a devilish purgatory.
Our Medicaid provider drops us when our stock portfolio goes over $1,500,saying we no longer qualify because we have too much money...How do we save up for the future.Is there some kind of loophole.
Didnt you just ask the same question the other day with investment properties?
If you're asking us to pay for your health care, you should be contributing to it yourself.
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