How can my mom pay for Dad to go to a nursing home?

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My dad is 80 and has Alzheimer's. My mom is 72 and has been his caregiver the last 3 years. It has now gotten so bad that she cannot do it any longer. She applied for Medicaid, but was denied because they have life insurance. Can that be considered an asset? The only real asset they have is a car, the property they are living in was my home before I got married. The income they get with SS and retirement is not enough to pay for a NH. What are her options?

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Sorry, ,,the face value is 10k but what is the CSV? Doing something with it to qualify for Medicaid should mean getting a legal consultation AFTER you really know what they have and then can have someone explain this in terms of eligibilty.
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Usually the kind of life insurance you get thru work is a group term life policy that doesn't have CSV. But you need to actually read it. Good luck with getting more info. Just transferring the other policy to you v e coming the owner and paying the premiums won't work because she's just giving away the asset. It sounds like the face value of n tge
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You really need to see an eldercare attorney to find out how to do this the right way.
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Both their policies are $10,000 each. She's been paying for hers since 1997 through Allstate, we was thinking of transferring it to me and I make the payments. My dads was provided to him by his job when he retired. Not sure how they could cash his out, but we will be contacting his job on this tomorrow. If you cash these out, how can you afford to bury them when they pass? We have an appointment next week with his doctor, the NH we are looking into placing him and the Medicaid agency again. Sorry for the dumb questions, this is all new to us and we are learning as we go.
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Of course it's an asset. Is it term, not countable; whole life should have a Cash Surrender Value that would be countable. Use the CSV for living expenses or an exempt burial plan. Ask the agency what it is about.the policy that made them ineligible.
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You should probably talk to an eldercare attorney about why Medicaid was denied. They may need to cash in the policy, or convert it to a burial policy.
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