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
Share
2

Answers

Show:
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
Helpful Answer (1)
Reply to Daughterof1930
Report

No. Medicaid will require you to do this before becoming eligible anyway. Just keep records of how the funds were spent.
Helpful Answer (1)
Reply to AlfredR
Report