Mom and Stepdad are in their 80's and lease their own apartment with part-time, in-home caregivers. However, Stepdad has been between the hospital and rehab for some months now.
Several years ago, Mom sold her house (not owned in partnership with Stepdad) and the money has been kept in a market fund in her own name. She wanted to have money to pay for care in her old age. Now my Stepdad is running up big medical bills and his own money will be running out. Will Mom have to exhaust her personal money to pay his bills before he will qualify for Medicaid?
doesnt matter who’s name was on the deed. Medicaid considers all assets joint assets.
only let her keep up to a certain amount-$128,000 in your parents state (California).
e.g.
California Long Term Care Insurance Options
Hybrid Long Term Care Insurance
A hybrid long term care insurance policy combines the benefits of life insurance, or an annuity, with long term care benefits. You can buy a hybrid long term care insurance policy by paying a one-time lump sum premium, or over a set period of time.
I didn't realize that an elder law attorney would be of use in this case. I figured Medical would be cut & dry.
Thanks again for the suggestions.