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I am on Medicaid in PA and will be C in Co. in a nursing home. Please can you give me some advice and help. Hilary.

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What is “C in Co.”? From what I’ve read here, the policy will have to be signed over to the facility as it is considered an asset and to cash it in and give the money away is considered gifting.
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I think it may depend some on the state but as a life insurance policy your final expenses should probably be fine to come out of that even if you need to sign the rest over. Most states if not all I think allow for final expenses to be pre-paid or life insurance to cover them and don't force you to give up a policy as part of qualifying for Medicaid but I'm not sure how a universal policy is handled specifically.
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worriedinCali Aug 2019
Actually it depends on what type of policy it is for. It does not matter if it is intended to pay your final expenses. If it has a cash value, it usually has to be cashed in. And again it matters not what you plan to do with the money, it all comes down to the cash value of the police. Whole life insurance is considered an asset but it’s exempt up to a certain amount, which varies by state.

medicaid does allow burial accounts but this isn’t a burial account. It’s life insurance.
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As I read it, it has cash in vslue. As such, it has to be cashed in and becomes part of your spend down. Medicaid allows you to prepay your funeral.
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We cashed my Mom’s policies in & prepaid her funeral with the money.
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