That is absolutely not true. And forget any other financial advice you get from her as well. No one's more dangerous to take advice from than someone who thinks to know the answer.
There are financial qualifications for Medicaid. It varies somewhat from state to state, but in all states you can own a home and a car and still qualify. How much additional you can own in assets varies from state to state. It is also different for a couple than for a single person. A married couple can definitely have assets over $1500. So, as others have said, get your information from legitimate sources.
Visit Medicare.gov for answers. You can also visit your local senior center or center on aging and make an appt to talk to someone who will give you free information and has expertise in this area. DONT listen to your wife or friends who may not know all the facts.
Do not depend on your wife or her sources for financial information. Do not make decisions on what she thinks are the rules. You are right to do your own checking. She may no longer have the abilities that could be counted on previously.
Because with Medicare you can be a multi-millionaire and own a dozen homes and still be able to apply for Medicare because you had put your own money into the system for the past half a century.
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There are financial qualifications for Medicaid. It varies somewhat from state to state, but in all states you can own a home and a car and still qualify. How much additional you can own in assets varies from state to state. It is also different for a couple than for a single person. A married couple can definitely have assets over $1500. So, as others have said, get your information from legitimate sources.
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Because with Medicare you can be a multi-millionaire and own a dozen homes and still be able to apply for Medicare because you had put your own money into the system for the past half a century.