They only have 5000 in bank, but this seems to be too much? How can I find out how to protect what little they have, without spending it all on an advisor, but not have over the $2000 limit I seem to keep running into on applications.
There's no reason to protect 5,000. See that attorney for advice and that will eat the 5,000 up real quick. Problem will be solved. HOWEVER exactly what sort of aid are you expecting can be provided in your state?
It appears you are trying to apply for Medicaid. To place her in NH or to get help at home? There will be very, very limited inhome care available for her with Medicaid. Just a few hours per week. You're correct, no point in spending the minimal amount they have to pay for financial advisor. Just do the Medicaid application and note that mom needs facility care and dad will remain at home. The process will determine how much money he gets to keep at home for bills and how much will be used toward her care each month. Medicaid picks up balance of NH bill that her income doesn't cover.
You might be better office to go to your local Medicaid office for elderly/disabled (in Texas it is referred to as MEPD office/workers) so that you can explain that she needs NH placement, he stays in the home. For two adults, the limit in bank is higher than $2000. If you're only putting her name on the application, it's possible that is reason they said she can only have $2K in the bank.
You're going to need doctor verification that she needs NH care.
In Ohio if one spouse remains in the home it is exempt, and the spouse can retain $23,000 in personal wealth that is also exempt so they can maintain their home and have money to live on. The spouse applying for Medicaid can only have $2000 of personnel wealth, anything over that has to be spent down (lots of legal ways to do this.)
If the resident spouse dies or moves out of the house it has to be sold, part of the sale price goes to the spouse and the rest reimburses Medicaid.
My numbers are based on 2018 so the totals may have changed. Please make an appointment with your local Medicaid office to get the facts for your state.
Please enlist the help of the Office of Aging for the state of where your parent's live. On Google, look up MIPPA and the name of their state and contact them. MIPPA is a federal program. They have people who can assist you to find financial resources and their services are FREE.
If they refer you to other services, ask the question if there is a cost associated with it or not.
We have a wonderful program here called IRIS. It allows people to stay in their own home and helps pay for not only the care, but also provides for things like therapies, activities, any modifications to the home, or things needed in the home.
They also allow them to choose their own care giver (including family). It is through Medicaid here so if they are eligible make sure they can sign up.
Programs vary from state to state and some states don't allow family, but I think that is wrong. Family is usually the BEST, because they truly care and will do all they can to help. Also, with the patient in charge makes them feel that they do still have some control over their own lives and are much happier.
They do NOT need to loose all their money or possessions as often happens with nursing homes and other facilities that after taking all they have often will try to toss them out. Please check into the in home option.
You can apply for Medicaid through your state’s website or you can go to your county’s social services website or go directly to their office and apply for Medicaid for your parents. I don’t know what the Medicaid limits are in Massachusetts, but with $5,000 that your parents have can be easily spent down and then they will qualify for Medicaid.
Hoping your parents will get the help they need as I know some people are struggling to make ends meet.
Medicaid is very State-specific. You need to see a Medicaid planner or elder law attorney in their state.
There is Community Medicaid, which often has no asset limit. Then there is Long Term Care Medicaid, which will pay for NH Care. There are often waiver programs that will pay for home care to avoid NH placement.
You should call your local Area Agency on Aging for Dr direction. Or call the County Social Social Services office to discuss how to proceed.
See that attorney for advice and that will eat the 5,000 up real quick. Problem will be solved.
HOWEVER exactly what sort of aid are you expecting can be provided in your state?
You might be better office to go to your local Medicaid office for elderly/disabled (in Texas it is referred to as MEPD office/workers) so that you can explain that she needs NH placement, he stays in the home. For two adults, the limit in bank is higher than $2000. If you're only putting her name on the application, it's possible that is reason they said she can only have $2K in the bank.
You're going to need doctor verification that she needs NH care.
If the resident spouse dies or moves out of the house it has to be sold, part of the sale price goes to the spouse and the rest reimburses Medicaid.
My numbers are based on 2018 so the totals may have changed. Please make an appointment with your local Medicaid office to get the facts for your state.
If they refer you to other services, ask the question if there is a cost associated with it or not.
They also allow them to choose their own care giver (including family). It is through Medicaid here so if they are eligible make sure they can sign up.
Programs vary from state to state and some states don't allow family, but I think that is wrong. Family is usually the BEST, because they truly care and will do all they can to help. Also, with the patient in charge makes them feel that they do still have some control over their own lives and are much happier.
They do NOT need to loose all their money or possessions as often happens with nursing homes and other facilities that after taking all they have often will try to toss them out. Please check into the in home option.
Hoping your parents will get the help they need as I know some people are struggling to make ends meet.
Best wishes.
I would see a Medicaid agent and see what is what in their state.
Good Luck!
Medicaid is very State-specific. You need to see a Medicaid planner or elder law attorney in their state.
There is Community Medicaid, which often has no asset limit. Then there is Long Term Care Medicaid, which will pay for NH Care. There are often waiver programs that will pay for home care to avoid NH placement.
You should call your local Area Agency on Aging for Dr direction. Or call the County Social Social Services office to discuss how to proceed.