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We live in our own house. We would like to buy land or a rental property,but our medicaid tells us to sell it or live in it,or be cut off from services...Anything valued over $2,000 they want you to sell it to qualify...Is there some loophole to get around this??
Not to the best of my knowledge (someone correct me if I'm wrong please) . We have been through this with first my parents and now my elder brother. You have to be utterly impoverished to receive assistance. It's a national tradgedy. My heart goes out to you.
We live in our own house. We would like to buy land or a rental property,but our medicaid tells us to sell it or live in it,or be cut off from services...Anything valued over $2,000 they want you to sell it to qualify...Is there some loophole to get around this??
Generally no. Your family home is not counted as an asset as long as you, or an non-institutionalized spouse, is residing in it. All other property is a countable resource and has to be spent down to the applicable resource limit.
Not to the best of my knowledge (someone correct me if I'm wrong please) . We have been through this with first my parents and now my elder brother. You have to be utterly impoverished to receive assistance. It's a national tradgedy. My heart goes out to you.
It's not a national tragedy. They aren't being told they have to sell the house they live in. They are being told that if they have the money to buy an investment property, they can afford to pay for their own health care, instead of receiving it from the government, which has to collect the taxes to pay for it from others. Where's the tragedy in that? You think taxpayers ought to be paying for healthcare so the person being cared for can buy investment property?
We live in our own house. We would like to buy land or a rental property,but our medicaid tells us to sell it or live in it,or be cut off from services...Anything valued over $2,000 they want you to sell it to qualify...Is there some loophole to get around this??
There are ways to "cheat" the system and hold title, nothing I would encourage or tell people how to do.
I agree with Bill. Our waiting list for the Medicaid plan in Oregon is really long. If you can afford an investment property or some land, then you don't sound like you need Medicaid.
There are a lot of people that really, really need help that can't afford land, and they are on the waiting lists.
I'm going to agree with Bill here too, and I am in favor of nationalized healthcare. But the system as it stands is there to help the really impoverished and if you are not, but are hiding assets in order to get assistance, then you are preventing somebody else from getting help they might need more than you.
I didn't carefully read the post and missed the part about buying additional property. I stand suitably chastened. I don't respect people who manipulate the system that is, as you correctly pointed out, for the truly impoverished (which was the case for my family). My father was proud of owning his house* and being debt free. He had no other assets. He was going out the front door on his way to work at 76 years of age when he had the stroke that put him in a nursing home for the last five years of his life. His retirement was five years in a wheel chair. I could not afford the $5000 a month (in today's money) for his room and he went on Medicaid. I am sick to this day that I couldn't do better for my Dad than that, but the reality is that I'm facing the same fate. In our society today there is an abyss between the wealthy and the working class. You either are or become rich or you will become utterly impoverished in the end (unless God mercifully allows you to die suddenly). It's like a Monopoly game. I have decided not to put my kids through any of that. I will rent. Then I will have nothing that has to be liquidated when the time comes.
*The demographics had changed for the worse in his neighborhood and his house brought only $3000 after being on the market for a year. That didn't pay for more than a month's care.
If you can afford to buy land, why do you need Medicare?
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I don't respect people who manipulate the system that is, as you correctly pointed out, for the truly impoverished (which was the case for my family). My father was proud of owning his house* and being debt free. He had no other assets. He was going out the front door on his way to work at 76 years of age when he had the stroke that put him in a nursing home for the last five years of his life. His retirement was five years in a wheel chair. I could not afford the $5000 a month (in today's money) for his room and he went on Medicaid. I am sick to this day that I couldn't do better for my Dad than that, but the reality is that I'm facing the same fate. In our society today there is an abyss between the wealthy and the working class. You either are or become rich or you will become utterly impoverished in the end (unless God mercifully allows you to die suddenly). It's like a Monopoly game. I have decided not to put my kids through any of that. I will rent. Then I will have nothing that has to be liquidated when the time comes.
