Texas life insurance cash value problem.
My Dad was denied Texas medicaid I was blindsided. The reason given was his cash assets exceeded the $2000 limit. They added his checking acct of $1486 to the life insurance cash value of $1476 totaling $2476. So $476 over. So that excluded him in Dec, Jan.
I thought any life ins cash value under $1500 was an excluded asset? Because without that being added to checking acct he qualified.
I called the nursing home and got the case workers phone # and called her. I explained how I thought the life insurance was an exempt asset and didn't count in the cash value of checking. She said it does. I explained that the cash in the account was his income and that it was going to the nursing home. I tried to explain that his VA stipend hits on the last day of the month so it inflates his cash value toll I can write check to nursing home. His SS doesn't hit bank till a week into the month. I asked if anything could be done. She said she would send me a form stating that his life insurance cash value would not be touched and would go to funeral expenses. Anyway signed it this morning and faxed it to her. She reopened the case and said he was approved starting in Dec. That was good of her to do that otherwise she said if she didn't it would have been another 45 days.
I thought I had everything planned out for approval but still perplexed about the life insurance cash value being under the limit but being counted as an cash asset. Can someone explain where this went south.