Medicaid is STATE-specific

Same in FL.. the Income you get from them counts along with your SS funds. If you are looking at NH needs, both those will go to pay for your care.
:-)

Again, those retirement assets are non-countable is certain states:

https://www.google.com/search?q=in+what+states+are+retirment+accounts+non+countable+for+medicaid&oq=in+what+states+are+retirment+accounts+non+countable+for+medicaid&aqs=chrome..69i57.40096j0j4&client=ms-android-tmus-us-revc&sourceid=chrome-mobile&ie=UTF-8

Yes, that has been mentioned when I said "all assets". A member came back and said some retirement plans don't count. Nice to know huh.

The state specifics and state laws also ime really come into play if your elder is wanting to keep their home - which LTC Medicaid allows them to retain an an exempt asset for their lifetime - and then they die and the family / heirs are dealing with estate recovery.

like some states are very pro-property rights and these tend to allow for a waiver of elders income to be used for a period of time on the elders property or the state allows for Enhanced Benefit Deeds aka Lady Bird Deeds, or Testamentary Trusts, or other types of Trusts & Deeds allowed which are outside the reach of the attempted recovery. Some states do not allow for a proactive Tefra type of lien placement on the elders property, instead it’s an after death claim against the estate which then can get probate laws (like as to how claims are required to be done or the opening / closing aspects of probate) and property rights all interacting. Some states take a very loose interpretation of allowing a home that has the address as a business or a huge HUGE property that’s obstensibly a ranch to be totally outside of recovery.

its all all so state specific. No 1 system fits all ever.

Geaton, no, I don't have a trust.

In NYS, all retirement account are non-countable assets for Medicaid, but they must be in payout status (which makes the income available).

There is also "spousal refusal".

It is yet another reason why consultation with a CELA lawyer who understands your state's Medicaid regs is so important.

Makes me understand better why, when I had a brief consult with an estate attorney after my mom left me a bit of money, she said it was better to use that money to live on and put nearly all my salary into my retirement accounts. It saved me a lot on taxes at the time but also ended up with those funds being non-countable.

Barb, are the 401K, 403b, 457 part of a trust?

Such good advice. One of our (former) frequent posters lived in Michigan; through her I learned that they have an enormous amount of in home support available through medicaid that just doesn't exist in a lot of states.
You are so right. This is a combination State and Federal program and the State's own rules are the deciding factors in care.

Wow, Barb. That’s so interesting. Thanks for the reminder.