My mom is on Medicaid/Medicare and living in a SNF. We have a joint checking account which is her funds from SSI and a small pension. It is starting to add up since she has no expenditures other than her SOC and I don’t know what to do about that since Medicaid is going to probably not like that and want to take it. Should I spend the money? Or what?
Like said, there is some misinformation here.
Most of us know, for Medicaid to be involved the recipient is actually poor. All assets, except a car and home, have to be liqidated and spent down. Spend down can include a prepaid funeral and paying privately for LTC applying for Medicaid when funds are depleted. It depends on the state but 2k seems to be what is finally allowed in the persons bank acct. Any bank account with the recipients name on it may be considered their money. There is no reason once a person is on Medicaid, that any money should be going into their bank account. The 2k allowed is to be used on the recipient. And u better have a good reason to use it.
I just don't see how Medicaid is paying for this person's care and that their SS and pension are not being paid to the NH. Personally I had NH made payee for both Moms SS and pension. One less thing I had to worry about.
As long as you don't cut her short.
Doing so could cost them their elders Medicaid coverage.
Having a joint account that only receives the elders money for deposit doesn't make it anyone's money except the elders. Sharing an account is a really bad idea when Medicaid is involved. Better to be payable on death and handle all banking online.
I am a little worried that you are marrying your money and hers. Her account is her account and should have a financial power of attorney managing it, keeping careful records, and things in that account belonging only to her, and spent only on her. I think I would get a little good financial advice about this.
You can not use any of her money for anything or anyone besides her.
You can use it for clothes, eye glasses, hearing aids, dentures, medical supplies or bills, supplements, buying her food or drinks that she enjoys, hair salon, nails, shoes, etc but you will get her Medicaid messed up if any of it is spent for you.
No you can't spend it. Its not your money. It has to be spent on Mom. Are you sure you r not suppose to be paying the facility Moms SS and pension?