It astounds me that when a sick elderly person is thrown into Medicaid at the mercy of the rest of our taxes, that dependents expect that person should be able to keep, and more importantly will over the assets to the children.
The ride is free, but you can’t keep what you squirreled away unless you do it 3 years before.
I didn’t think you could keep anything. When the assets dwindle to nothing, Medicaid begins. Medicaid is triggered by everything running out.
I’ve been shouting this on this and other forums for months now.
Medicaid is a reverse mortgage on steroids and crack.
“The ride is free, but you can’t keep what you squirreled away unless you do it 3 years before.”
It’s 5 years now.
The "look back" period is now 5 years.
I agree. They don't want to take care of Grandma now, so send her to the nursing home, where she'll stay alive until the estate is bled dry. And they still want that estate?
It's insane. If their generation had any common sense, they'd keep grandma in her home, and move in to provide TLC. That's free room and board, that Social Security check paying the expenses, and those retirement checks keep coming as long as they can keep the oldsters alive. The care situation?....guess again. Medicare will provide daily nursing assistance to keep that person out of the nursing home. Hospice does a good job, from what I've seen in the neighborhood.
Next transition, the kids get a mortgage-free house and some savings. It's a good deal (maybe the best they'll ever get), if people were able to grasp the concept of making choices.
I think it’s more than 3 years now....5 or 7 I think
If I am not mistaken, the rule is now 5 years. My mother's estate was under the 3 year rule, just barely before it was changed several years ago.
It astounds me that when a sick elderly person is thrown into Medicaid at the mercy of the rest of our taxes, that dependents expect that person should be able to keep, and more importantly will over the assets to the children.
The ride is free, but you can’t keep what you squirreled away unless you do it 3 years before.
California's MediCal which is Medicaid put these rules into effect at least two decades ago.
Most, who tried to have their parents assets diverted to them, before/during/post medical treatment, that we know were shrieking liberals. They wanted their parents assets and for the rest of us to pay for their parents final care. It was comical to watch these liberals who loved every tax created, go into depression when they got taxed in spite of their criminal acts.
The funniest event was where a female tricked her mother to sign every asset over to her before her mother died. This also $crewed her siblings who got nothing. One of her siblings turned her into the various tax agencies and the local sheriff since the mother died without a will. That meant that anything left after the medical bills should have been divided equally with all of the surviving off spring. The conniving witch ended up with criminal charges that would be dropped if the left overs were divided up equally. She ended up broke after she paid off her siblings.
“The ride is free, but you can’t keep what you squirreled away unless you do it 3 years before.”
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It’s five years in MA.
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