How to hide money to be approved for Medicaid?

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I started this discussion as paying it forward to others. There's many reason why people hide their money and many different types of people. Some people that hide money are old school people that just don't trust the stock market and banks. Then, there's some that hide for tax reasons or reason to obtain gain.
The types of people that hide their money is elderlys with savings and then there's the rich.
The first thing I would like to talk about is the question people asked on this forum everyday. ("Medicaid" How to get approved if you own to much money?)
The simple answer to that question is "Hide it".
I'm talking about hiding money not assets as Town homes or other assets.
We all know that it's difficult to hide a house but, not money.
When appling for Medicaid. We all know that Medicaid goes back 5 yrs or veries by State. A person appling for Medicaid is allowed to keep a vehicle, Credit Card, Bank Account less then $2,000 at all times. Anymore then that and you will be denied for Medicaid. I maybe wrong on some Medicaid qualifications but, I think I hit it on the nail.
Some say your allowed to donate "Gift" up to $10,000 - $14,000 per yr that's one way of hiding money with family.
Withdrawing a large amount of money from a bank account or closing a bank account. Anything over $10,000 a Fed-report must be filed and option to pay the taxes at that time.Every bank ask for a reason for large amount withdraws. Think of a reason doesn't matter it's your money.
Next question is, What do I do with all this cash I have from withdrawing? Simple, Hide it!
Where is a great hiding place?
Freezer is the best place.If ever a robber in the house.The robber will never think of the freezer.Next best place is a safty deposit box.My advice is to have two people as joint on the box.That way if creditors or other attempt to seek they can't.They won't know whos is whos.It's illegal to place cash in a safty deposit box.But,if they don't know it's cash.Requires wrapping the cash into something prior of placing into the box.And your behind closed doors.
After you hide all you money.
The next question is, What do I say if asked where did the money go?
Your addicted to gambling. You call the 1800 hotline once a month because,your addicted to gambling. You buy lottery tickets all the time. You gambled it all away. That's what happened to all the money! Remember to keep small winning tickets in a box for proof.
I stated all of this because, I feel sad about the people that don't get approved for Medicaid while the rich get approved.Millionairs are on Medicaid getting foodstamps & cash benefits as we speak.That bothers me and is why I'm stating all of this.People may differ and say that's not right that's ripping off the GOV-.Everyone in some way is ripping someone off truth be told.
Yrs ago I worked in a factory that dealed with Steel Coils.All companies with product must do quarterly inventory for profit reason and tax reasons.This company I worked for had many other companies in the USA.Taxes % veries by State to State.If a company is cought by the 4th quarter with large amounts of inventory that must pay taxes on that 4th quarter inventory for the yr.That's how we got our bonus each yr after each quarter inventory.
Just like how Wal-Mart does it. If Wal-mart as too much 4th quarter inventory they will transport, transfer, move that inventory to a lower % tax State. To avoid how dollar tax. Then, after the 1st of the new yr that inventory goes back to the original store.As you all call discounted items.If you think Wal-mart loses gain on discounted items think again.They gained by saving taxes on the 4th quarter inventory that you think is new. Wal-Mart profits $200,000 a hour per day on just one store. Many factorys and companies turned to operate as Walmarts tactics and growing with gain.
Elderly people save all there lives for their retirement & enjoyment.Why should a elderly person with only $20,000 in their savings be forced to pay for medical bills.When there's Millionairs not paying a dime for their Medical thru Medicaid!
Just burns my butt seeing this stuff going on and all getting away with it. Everyone is doing this or will be soon enough.It's nice to give back with real true advice with real answers.

53 Comments

Dogabone, must you continue your frickin' rants about recommending that everyone commit fraud to take advantage of government programs....oh, let me replace the word government with taxpayers, as in your fellow posters on this site. Do we have to keep telling others to disregard your wacko advice? Are you serious about keeping cold cash in the freezer? Like no one has ever thought of that before. I worked for the IRS in collections for years. Don't think you can always hide a safe deposit box or prevent access to the contents. With your attitude about cheating I can't imagine who would be comfortable having you as an additional signer on the box. If you know some specific millionaire getting benefits by following your advice I suggest you call them out or turn them in to authorities. Maybe you should look in your aunt's freezer. Maybe that where the cash deposits you take out of her account every day are disappearing to when they've "grown legs" and can't be accounted for.
Well, I never understood the so-called "welfare cheats" until for the first time in my life and family history I had to apply for assistance through the area agency on aging who, by the way, are the gate keepers for all services to seniors in region of my state. Like a fool, I answered all of the income questions truthfully. I am the sole caregiver on the planet earth of my 92 year old mother with moderate level dementia (and progressing). First of all, we are a little under 200.00 over income and therefore, we get virtually no assistance. They determined that we had an 80% co-pay for all caregiver services (home health aid, companion, respite, nursing home care, et al.). As a former teacher (who lost her job due to the amount of time I had to take off, leave early caring for my mother), I pointed out to them that the math did not reconcile. They do not deduct for mortgage, car (necessary to take her anywhere), insurance, food, and the many supplies I have to buy for her care. Their response was "there is nothing we can do, good luck" and this was from different programs administered by the area agency on aging. We do not have the cash that we need for in-home care let alone nursing home care (3,000/month minimum) or any respite for me (150/day minimum). There is a special grant program for nursing home assistance that requires documentation of all income. I can't get the documentation for her pensions beyond social security. I don't know the ID numbers, years, etc and she has dementia. Her other pensions are in another state, and I cannot afford to pay for someone to look after her for a few weeks (or more) while I go to the MI state capital and wade through the bureaucratic nightmare to find documentation and she can't travel. Meanwhile, if she could travel, who would look after her while i went from office to office trying to get the documentation. I too am a senior citizen and had to take my social security early after my unemployment stopped. I have applied for countless jobs, and started many projects that could (under other circumstances) yield some income. But my mother's care is all consuming. I get very little sleep, I have high blood pressure, and diabetes which until a few years ago was under control without medication. Now, for the first time, I have had to take medication. All of the programs helping seniors are based on federal income requirements and all you have to be is one dollar over income. Our circumstances have destroyed my professional and personal life and rendered me financially just above destitute. I have come to the conclusion that the only way for those of us who are not wealthy or have substantial assets; for those of us who have worked all of our lives---I have been paying taxes since I was 13, my mother from 19 to 70---to live as we age is to not age. I have also come to the conclusion that the only way to get any kind of assistance is to know the ins and outs of the system and tell them (the clerks who take the information and the paraprofessional "social workers") only what they need to know to fill out their various forms. That may be why welfare has become a multi-generational process. For one, someone has to teach you what you should and should not say. The program workers are primarily there to screen out people from receiving services and are very cagy about the guidelines. I am stuck living the life of a 92 year old at 63 years old. My last best years are being spent home bound with my mother. My mother is stuck not receiving the care and socialization she needs, because I am always, cooking, cleaning, cleaning up messes, doing social work looking for a way to get her into a nursing home, doing home repairs, trying to manage the money, keeping up with medications, basically running a one-woman nursing home. But someway, I must get a job or generate income of an additional 500./month (minimum) to pay for her nursing home care. While dogabone may have some non-standard ways of dealing with the money, she is giving some advice to those that may be in my situation (before they get in my situation). There is a strong possibility that I will not outlive my mother. (And frankly, after seven years of this, I don't care how it ends; I don't care if I die first, I would at least get some rest. As I have watched my life crumbling to almost nothing, I have really lost the will to live.) However, if I do die first, the state gets to take my home, all of its contents, and my life insurance policy and put what remains after my mother dies in the coffers. In the so-called richest nation in the world it is shameful they way this culture treats the elderly. More people should speak out and share what they know about how to not get railroaded into by the state/government's outrageous rules and regulations that have no bearing on the reality of people's lives
Yemi - if your mom' situation is that her in income is $ 200 over whatever her state has as it's income ceiling for her to qualify for Medicaid (so she is not meeting your state's definition of "impoverished"); then you should look to see if mom can do a Miller Trust or Qualified (Guaranteed) Income Trust to get her income to be within Medicaid guidelines.

Miller is a pretty straightforward legal entity to get those who need Medicaid to pay for NH but just have too much "income" to qualify but not enough "income" to private pay. The NH staff or Area on Aging staff don't mention Miller as it's legal and they are not attorneys. (Here on this site you can pretty much suggest anything….as dog a bone has or as I have for that matter too!). You need an attorney to set it up as it has to be structured for your state laws and flexible/adaptable is mom's income changes. Good luck.

Igloo, thank you for your fair, legal insight. I have learned from you.

Dogabone, you disgust me. Encouraging people to commit fraud and doing so repeatedly is wrong and immoral. I hope you get audited, you have made your lack of ethics clear.
I am proud to pay my taxes, the only thing worst than cheater is a proud cheater that encourages others to cheat along.
I hope AC will wake up and block your from the site for inciting fraud of the US government and taxpayers!
Dog - about the freezer, well Bill Jefferson (former Rep - LA) did that. Didn't work out too well for him but worked out great for the FBI who found it!

Although your rant is interesting theory, it's just not feasible for the elderly to do. Really like those with dementia, cognitive issues and limited health situations can deal with the full-time job of maintaining a gambling facade.

Millionaires on Medicaid!!!??? I doubt that the wealthy are going to lower their standards to end up in a NH sharing a room with the impoverished. But what the truly wealthy do (generationally wealthy) is to grow up planning for the future and are open to having other professionals provide insight. Not hiding away a couple of thousand in the freezer or squirreling away hundred's in a coffee can.
vegaslady and lsmiami you have the right to your own oppinions there's no reason to be so upset over me. I'm not Encouraging people to commit fraud .I'm just speakingout is all. Enough said to ya.

Let's face the truth.If anyone had a chance to be approved for Medicaid to pay for their Medical bills and to keep their life savings for their retirement enjoyment.99.9% will attempt to do it!
I stated before some may differ my opinions it's their right to. I careless personally. As we speak there's Millionairs collecting Medicaid/GOV-Benefits and getting away with it. While the deserving get denied. That's what I stand for is the deserving that's denied .Elderlies are losing their retirements and being forced to conduct spendowns inorder to be approved while the wealthy gain without being pointed towards. Some say, Why not report the Wealthy for GOV-fraud?
Requires proof doesn't it!...If your a Millionair and know how the system works.Your smart enough to do it all correct without a paper trail.Requires knowing how the system works and what they look for.Let's face it,your not gonna tell anyone how you get your grass so green.Doing so will make other's greener then yours.The Main thing that Medicaid looks for is "Gifts by large amounts" as we all know.How to twist that Millionairs know the system.
Is it wrong to tell the people that really need Medicaid how to be approved?Life is a gamble.Fraud you feel?Only if you get cought.Unfare?Yes,it's unfare to the people that really need Medicaid and are denied the free ride while the Rich gain.Is it unfare that your told what you can & what you can't do with your retirement.Did you ever wonder why retirement people move to FLA?It's not for the weather.
I speakout with the truth.I may be wrong by doing so.Shoot me lol.
Yemi, sorry for your situation. It's probably made worse by your feelings of hopelessness and not figuring out how to resolve issues. As to your mom's pensions in other states....how is it that you know enough about it to report the amount of the income it but can't figure out anything else? Instead of traveling, have you heard of writing letters or phone calls? Maybe someone at AARP or the Alzheimer's Assoc could help you. If the money is direct deposited can't you get the information from the bank or the 1099 forms that are sent out at the end of the year? As for yourself, you could probably use an antidepressant and support. Start with your own doctor and ask for help.
In reply to igloo572,(Millionaires on Medicaid!!!??? I doubt that the wealthy are going to lower their standards to end up in a NH sharing a room with the impoverished.)
Is that what you think?You doubt that?Humm..
From your doubts of thinking,you have no idea what medical bills cost in the real world we live in.
I had a Uncle yrs ago with hundreds of thousands of dollars locked tight away.People don't save up for their life's retirements for medical bills.Their thinking is to save to have a good life and enjoyment.My Uncle had cancer.He required to be on in-home oxygen inorder to stay alive.He was paying out of pocket cost over $6,000 per month just for oxygen tanks.He was also,in denial of dieing .He felt at the time he would make thur the fight of cancer.He said manytime to me that he didn't save all his life to pay just for medical bills.With the cost of oxygen his money would have sunk.He was a wealthy person all his life and saved.For him to realize he will be poor by the cost of oxygen he wouldn't go for that!...He knew people that knew people as Millionairs on Medicaid.You say,you doubt that the wealthy are going to lower their standards?Come-on.....Get real...
Millionairs have tight lips and personally careless what people think and they don't tell a sole they take it all to their grave.You doubt ha?So did I at first untill I seen it done for my eyes to see.Do you also,don't doubt people with handicap parking stickers that walk without a limp?Humm.
Your continued encouragement for people to cheat their fellow taxpayers is disgusting, dogabone. What you suggest is against the law. That is not an opinion, it is a fact.
The only people I can think of who would be interested in hiding money to qualify for Medicaid would be the heirs. If the elder is going into a NH, money in the freezer wouldn't be much use to them.

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