FIND CARE
FORUM
CARE
TOPICS
Log
In
ASK A QUESTION
FIND CARE
FIND IN-HOME CARE
FIND ASSISTED LIVING
CARE GUIDES
CAREGIVING TOPICS
Join Now
Log In
Caregiver Forum
|
Medicaid
|
Questions
K
Kannie
Asked July 2018
Is it a problem to cash in a life insurance policy to help pay for nursing home expenses knowing that in 6 months it will be gone and we'll need to apply for Medicaid?
Follow
Unfollow
Share
X
Share with friends
Send To:
Your E-Mail:
Your Name:
Your Last Name:
Send Email
Cancel
Medicaid
This question has been closed for answers.
Ask a New Question
.
Find Care & Housing
In-Home Care
Assisted Living
Independent Living
Memory Care
Nursing Homes
Adult Day Care
Hospice
GO
2
Answers
Most
Helpful
Newest
First
Oldest
First
D
Daughterof1930
Jul 2018
My dad was highly advised to do exactly that to help my mom become Medicaid eligible. He used the money to become debt free and it sped up the Medicaid process
07/09/2018 15:23:23
Helpful Answer (
1
)
Report
X
This field is required.
Post Reply
See -1 more reply
A
AlfredR
Jul 2018
No. Medicaid will require you to do this before becoming eligible anyway. Just keep records of how the funds were spent.
07/09/2018 13:26:12
Helpful Answer (
1
)
Report
X
This field is required.
Post Reply
See -1 more reply
This question has been closed for answers.
Ask a New Question
.
Recent Questions
What happens when the money runs out for private care?
Hospice facility and Medicaid. Any information on the Medicaid 5 year lookback in the hospice facility?
Pros and cons of Medicaid/private pay?
Popular Questions
How much can an elderly parent give as gifts without worrying about "look back" laws?
Do you think it’s immoral to try to shield assets from Medicaid?
Why is it always a goal to put aging loved ones on Medicaid?
Related Questions
What steps should I take now to prepare for the possibility that my father (91) will outlive his funds?
I am a disabled adult receiving SSDI and gifts from family. How far in advance of the date of application to Medicaid do I need to stop receiving gifts?
Can I keep a motor home in a pooled trust and keep my Medicaid eligibility?
Is a quitclaim deed advisable for my mother?
Ask a Question
Post Question
X
This field is required.
Select a Topic
Alzheimer's & Dementia
Arthritis
Assisted Living
Burnout
Cancer
Care Decisions
Depression
Diabetes
Diet & Nutrition
Driving
Elder Abuse
Elder Law
End of Life
Family Caregiver
Financial Planning
Frauds & Scams
Hearing
Heart Disease
Home Care
Home Safety
Hygiene
Incontinence
Living Independently
Lung Disease
Medicaid
Medicare Open Enrollment
Medications
Mental Health
Mobility
Multi-generational Living
New to Caregiving
Osteoporosis
Parkinson's Disease
Paying for Care
Power of Attorney (POA)
Product
Rehabilitation Center
Relationships
Senior Activities
Senior Health
Skilled Nursing Facility
Sleep Issues
Taxes
Veterans Benefits
Vision & Eye Disease
Working Caregiver
This field is required.
Subscribe to
Our
Newsletter
Sign Up
Please enter a non-SMS email address.
X
Confirm
Confirm message
OK
Cancel
Please ensure Javascript is enabled for purposes of
website accessibility