My Mother went into nursing home for PT but is now needing to stay long term. I never realized till now that she has several life insurances that will have over $3,000 in cash value. She has had these for years to pay for her burial so is it too late since the app. has been submitted to transfer the largest ones to a funeral home?
When my mother passed, I took over for my Dad's finances. I immediately called the Funeral Home and asked to prepay his expenses. As he almost died twice the same month my mother passed, the Funeral Home allowed me to prepay in full. I knew that if he went into a NH, they might take everything he had and not leave enough for a funeral. The Funeral Home was very helpful.
As luck happens, he lived 7 more years. We straightened out all his physical needs the first year :)
How do I know if my resources qualify me for Medicaid?
The chart below shows the amount of resources (if applicable) you can retain and still qualify for Medicaid.
Resource Level (Individuals who are Blind, Disabled or Age 65+ ONLY)
Family Size
1 $14,850
2 $21,750
has not requested any information on them yet.