I have been researching and asking advice about Nursing home Medicaid lookback. I know as the spouse my finances will also be scrutinized. My husband only has his Social Security monthly in his name. I know I cannot write any large checks bc they will be considered gifts if given to a child or grandchild. Not sure what amounts are considered too much. I am also not sure if my occasional ATM withdrawals ( need the cash to pay for certain things) and my Visa charges will also be scrutized. Has anyone had this happen? I heard they could use a forensic accountant to look into most transactions made during the 5 years. I have a friend whose elder attorney told her they will penalize you for any checks over $1000. Someone else told me too many ATM withdrawals could cause penalties. We are not at the point yet for nursing home admissions but my husband’s anxiety, frustrations and often anger are really wiping me out.
Any insights would be greatly appreciated. Thanks