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Old 03-30-2021, 06:07 PM
 
2 posts, read 844 times
Reputation: 15

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my mother is still in nursing home here in missour, she is 100 years old. other day nursing home called me (son) and said they (nursing home) had received check from my mother's life and health insurance company, that her policy had matured and they (nursing home) was going to send the check to me. the name on the check is my mothers name only, so (and i will call nursing home back) what should i do with the check that nursing home sent me. my mother is on medicaid and medicare.
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Old 03-30-2021, 06:20 PM
 
Location: Kansas City North
6,833 posts, read 11,578,641 times
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Are you her power of attorney?
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Old 03-30-2021, 06:40 PM
 
3,041 posts, read 7,945,294 times
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Quote:
Originally Posted by rowbeartoe007 View Post
my mother is still in nursing home here in missour, she is 100 years old. other day nursing home called me (son) and said they (nursing home) had received check from my mother's life and health insurance company, that her policy had matured and they (nursing home) was going to send the check to me. the name on the check is my mothers name only, so (and i will call nursing home back) what should i do with the check that nursing home sent me. my mother is on medicaid and medicare.
In most states the government will take it.
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Old 03-30-2021, 09:36 PM
 
2 posts, read 844 times
Reputation: 15
my mother is her own person, no poa/guardian etc.
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Old 03-31-2021, 11:59 AM
 
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I am posting this so I will receive notices of replies. This will be interesting because I am also what you call "no poa/guardian" ( but not in nursing home --- yet, thank goodness.)
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Old 03-31-2021, 03:51 PM
 
4,873 posts, read 3,610,469 times
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Quote:
Originally Posted by rowbeartoe007 View Post
my mother is still in nursing home here in missour, she is 100 years old. other day nursing home called me (son) and said they (nursing home) had received check from my mother's life and health insurance company, that her policy had matured and they (nursing home) was going to send the check to me. the name on the check is my mothers name only, so (and i will call nursing home back) what should i do with the check that nursing home sent me. my mother is on medicaid and medicare.
I'm not sure I understand the issue. Can you just do what your mother wants done with it, or is she not in a fit state to make financial decisions? If she has a bank account, you can deposit the check for her; have her endorse the check and add FOR DEPOSIT ONLY, or if that's not feasible you can write FOR DEPOSIT ONLY and deposit it to her account.


If she can't make financial decisions then the above applies, but also someone should gain the appropriate legal status to handle her affairs.
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Old 04-04-2021, 11:25 PM
 
936 posts, read 827,038 times
Reputation: 2525
Quote:
Originally Posted by rowbeartoe007 View Post
my mother is still in nursing home here in missour, she is 100 years old. other day nursing home called me (son) and said they (nursing home) had received check from my mother's life and health insurance company, that her policy had matured and they (nursing home) was going to send the check to me. the name on the check is my mothers name only, so (and i will call nursing home back) what should i do with the check that nursing home sent me. my mother is on medicaid and medicare.
Are you sure this is a "health insurance policy" and not a "whole life (insurance) burial policy"? I'm almost willing to bet you're referring to a burial policy, which can be paid up, mature, and then turn into payments.

I think you're worried about how this will effect your mother's Medicaid/Medicare status? More than 10 years ago I was a case manager for DFS and used to determine eligibility for Medicaid. Simple answer: Yes, this policy could be an issue for your mother.

First, Medicare (federal) doesn't care at all if you have one of these policies. BUT Medicaid (state) does count these kind of policies as assets that can effect your mother's eligibility. If this policy's value and its payout + her other assets = more than $5,000, then Missouri could yank her Medicaid away. (Medicaid is paying her nursing home bills.) Eventually, the insurance company will report this payment to the IRS. DFS in Missouri has access to IRS records, but it lags by more than 6 months. When it hits and the DFS case manger receives an alert, they will probably contact you about it to explain the insurance policy and its value.

There is a way around this mess: You can still have one of these whole life policies and keep her Medicaid too. The only catch is that you must alter the policy to make it IRREVOCABLE, meaning that the regular payouts will stop. Assuming that she bought this policy for her funeral expenses, the insurance company will never send another payment until after she dies if the policy is irrevocable.

Medicaid counts these whole life policies as hard assets because at any time she could contact the insurance company and ask for a full payout immediately. For example, if the policy is worth $50,000, she could request the money and the insurance company will immediately send her a check for $50,000, putting her over the asset limit for Medicaid.
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