I am unable to care for dad at home. I have lived with him for 5 years. He doesn't qualify for Medicad because of owning the house. I'm told I can apply for an exemption, however, I don't know how. Please help.
A realtor can give you the Market Value or pay an assessor. Those realtor sites vary on price. You need someone who can look at your house and see what shape its in. My Moms needed a lot of work. I did not have the money to put out with no guarantee of getting it back. So it was an "at is" house and priced as such.
Sorry, looks like I am wrong about house being transferred. After Stacys response that Caregiver doesn't come into the picture until after death, I found this
"The child caretaker (or child caregiver) exception allows your elderly parent to transfer ownership of their home once they become Medicaid eligible to an adult child who provides care for them without violating the Medicaid prohibition on transferring assets during the "look-back" period."
You really need to talk to the caseworker concerning the house and the information you have been given. And please come back and tell us what you have been told. Because I have the papers where a lean was put on the house after Moms passing. And in those papers it mentions proving main residence and the person being able to remain in the home but a lean will go on the house.
To help find out the value, as Stacy stated, look up what the county value for taxes is. But again as Stacy said there usually is what can be a considerable difference. Then you can put his zip code into a real estate app like Zillow and find comps (comparable values) of what houses are selling for in his neighborhood and average it out but still it depends on any upgrades your father did to his home, if the home is in good working order (sump pump, HVAC) roof status, etc as these points may increase the value of his home. Short of paying for a real estate appraisal out of pocket but these too are depending on the what the appraiser determines. There are many variables. A real estate appraisal may cost $500. Realize you may not be happy with the RE appraisal value either. It’s an educated guess; average out selling costs of homes in his neighborhood.
As far as the ppwk needed to prove you were his caregiver, I believe you need to provide Physician notes explaining what care your dad needed and what care you provided. Other posters will know a lot more about this process.
Caregiver exemptions do not take effect until death. Check the taxable value on the county website. There may be a difference between taxable and actual value.
The home is definitely not more than 595k. They ask us for the value and I am not sure how to obtain that information. What documentation is needed? How do I apply?
His house is not considered an asset as such. Either is the car he drives. His qualifying is determined by his monthly income from SS and any pension he receives. His checking, savings, CDs, stocks, etc count towards the spend down.
Keep in mind, this is in the state of NJ.
The monthly income cap for Medicaid is $2300. If Dad is over that he may qualify by setting up a Miller Trust for the overage. Maybe another name in other states or Medicaid in your State does not allow the Trust. Cap for spendown is 2k. So if Dad has enough in savings etc ur best bet maybe placing him private pay and then applying for Medicaid before his money runs out. My state its 90days before.
There is no home transfer. The house remains in Dads name until his death. Since his home has been your main residence and you have been his Caregiver you probably will be able to remain in it but will have to prove you can pay the bills and keep it up. When he passes, a lean will be put on the house. You will probably be allowed to remain in the house, but again will need to prove you can pay bills and upkeep. If you leave the home, sell it or pass, the lean will need to be satisfied at that time.
I suggest you call your County Social Service Office and set up an appointment with a caseworker. Seems someone may have given u the wrong info or Dads house is worth more than the cap allowed. If so, it will then need to be sold for his care in LTC facility.
Homeownership doesn’t make you ineligible for Medicaid unless a)you own more than one home or b) the home equity exceeds $595k. Is your fathers home worth more than $595k? For a caregiver exemption, you need certain documentation showing you were your fathers caregiver for at least 2 years providing care that kept him out of a nursing home.
The home is definitely not more than 595k. They ask us for the value and I am not sure how to obtain that information. What documentation is needed? How do I apply?
Sorry, looks like I am wrong about house being transferred. After Stacys response that Caregiver doesn't come into the picture until after death, I found this
"The child caretaker (or child caregiver) exception allows your elderly parent to transfer ownership of their home once they become Medicaid eligible to an adult child who provides care for them without violating the Medicaid prohibition on transferring assets during the "look-back" period."
You really need to talk to the caseworker concerning the house and the information you have been given. And please come back and tell us what you have been told. Because I have the papers where a lean was put on the house after Moms passing. And in those papers it mentions proving main residence and the person being able to remain in the home but a lean will go on the house.
As far as the ppwk needed to prove you were his caregiver, I believe you need to provide Physician notes explaining what care your dad needed and what care you provided. Other posters will know a lot more about this process.
Good luck to you!
Keep in mind, this is in the state of NJ.
The monthly income cap for Medicaid is $2300. If Dad is over that he may qualify by setting up a Miller Trust for the overage. Maybe another name in other states or Medicaid in your State does not allow the Trust. Cap for spendown is 2k. So if Dad has enough in savings etc ur best bet maybe placing him private pay and then applying for Medicaid before his money runs out. My state its 90days before.
There is no home transfer. The house remains in Dads name until his death. Since his home has been your main residence and you have been his Caregiver you probably will be able to remain in it but will have to prove you can pay the bills and keep it up. When he passes, a lean will be put on the house. You will probably be allowed to remain in the house, but again will need to prove you can pay bills and upkeep. If you leave the home, sell it or pass, the lean will need to be satisfied at that time.
I suggest you call your County Social Service Office and set up an appointment with a caseworker. Seems someone may have given u the wrong info or Dads house is worth more than the cap allowed. If so, it will then need to be sold for his care in LTC facility.
For a caregiver exemption, you need certain documentation showing you were your fathers caregiver for at least 2 years providing care that kept him out of a nursing home.