My mom has $80,000 in the bank and could need nursing home/assisted living facility care soon. Will they take her CD/Money Market savings to pay for it? I head heard that you are allowed to keep up to a certain amount but that if you have assets/money over and above that amount they will take it from you to pay for your care. She rents an apt and has no other assets at all other than this money in CD's and Money Market accounts and her personal furniture/clothing, etc. Does anyone know if this is true about there being a limit you are allowed to keep?
Answers:
She will go into the nursing home/ assisted living as private pay. When she no longer has assets ($2,000 limit) she would qualify for nursing home care through medicaid most likely - but medicaid does not cover assisted living. She may qualify for some waiver services to keep her in her own home and out a nursing facilty. Check with your local office on aging. They may have a case manager to assess her needs and help plan her care.
if you have it,you pay.you also cannot transfer it to hide it if less two years pass between when the transfer takes place and the internment begins...
I live in Alabama and work with NH patients. This is mostly true of most states. You either have to pay the NH every month out of your pocket or if you need Medicaid to pay they will make sure that you have no assets left before Medicaid will pick up the tab and then they will decide by your mother's income if she has to still pay a share of the cost.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment