Medicaid question?

Medicaid question? My mom is getting some money from a disability settlement. The money is back pay for years of not being paid her rightful disability dues. Chances are, they will take her medicaid away from her seeing as now she will have $ in the bank? Are there any special bank accounts, CD%26#039;s or retirement accounts she can put it in so that her health insurance isnt taken away?

Best Answer

Unfortunately, no. She will have to %26quot;spend down%26quot; or in other words, spend that money on her living expenses until she reaches the allowable asset level for your state.

In order to re-qualify for medicaid, she will have to show how this money was spent, so make sure she keeps good records. She should also see what the asset level is for her state to be sure she doesn%26#039;t spend it all-but just enough to qualify.

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Thanks!

Other Answers (2)

• Well, is it private disability, or SSDI? If it%26#039;s SSDI, and she%26#039;s actually on MEDICARE, they won%26#039;t take away her Medicare. But Medicaid is strictly based on income and assets, so they%26#039;ll likely attach this, seeing as how she%26#039;s got some money to pay for her medical treatment.
  
  Hiding assets, in order to collect welfare benefits, is immoral (trying to steal) and illegal. agent, 21+ years

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