Can Medicaid find out about how much was transferred over from previous job into Roth IRA? - AgingCare.com

Can Medicaid find out about how much was transferred over from previous job into Roth IRA?

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I had to roll over a retirement account into a roth ira at age 60 from my job. I am disabled and received medicare and help from Medicaid. My roth ira is almost 17,000. Can i still receive medicaid . I am worried because I did not know that i had to claim it . Can I take money out of my ira without penatly or tax.. Can medicaid find out about how much was transferred over from previouse job into roth ira/ thank you

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I was told when I applied my mom for Medicaid that they know everything. They have a 5 year look back window.
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Not knowing you had to claim it is no excuse in the eyes of Medicaid. Sounds like, from your post, you are already receiving help from Medicaid. You could have to pay back what's been used on your case, up to the actual amount they used plus penalty. I agree with everyone else when they recommend you go for legal help now so you'll know exactly what you're looking at as far as the laws of your state go. Good Luck!.
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The best outcome will be for Medicaid to find out and not care because you got the best legal advise for your state and found you did nothing wrong. We can all offer opinions but your best bet is to get proper advice from an experienced attorney who understands your situation and the laws that prevail where you live.
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I don't know all the specifics, but it is possible that you have been violating Medicaid rules all along, and you may have to repay the benefits you've received so far. It is best to be UPFRONT about it all, as that will be the best outcome over all. I wish you the best as you consult for help with this.
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Medicaid will find out...
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If I'm correct that this is a pension you would have been entitled to from a former employer, make this clear to who u talk to. If you had cashed the money in would be one thing but you rled it from one retirement account to another. A lot of companies are dropping pensions. So employees that are vested have to find options for the pensions they have accrued. For you Medicaid is secondary. Medicare picked up the majority of ur health expenses.
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Medicaid had long arms and even bigger ears!
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I am not on Medicaid but did the same thing. You are rolling over what would be a pension right? I rolled over mine from a company to an IRA so I wouldn't have to pay taxes until I use it or turn 71, I think it is. In the state of NJ my nephew ISS allowed to make $20,000 a year and keep his Medicaid. People keep talking about "elder law"attorneys. Have never heard of this where I live. But we do have attorneys that specialize in Social Security law. Social Security office or Medicaid office could help u there. Please, don't buy anything big like said. The government can track you and wonder how u could afford to pay cash for a car, etc.
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I agree with the other answers here. The best think to do would be to consult with an elder law attorney. alz.org has support groups all across the country. Periodically, they have an elder law attorney come and lecture on Medicaid, nursing homes, preserving assets, etc. The lecture is free and the audience asks whatever questions they want. I would recommend contacting your local alz.org support group and seeing if they will have a Medicaid lecture soon. You could also ask which attorney or attorneys do the lecture, that way you would at least know that attorney had been vetted by alz.org, which is a good start.
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If you don't really need the money, have you thought of just using it somewhere for a major purchase such as a new car or home improvements if you own your home? Another idea would be to pay off some old debt or get some other things done that really need done. Have you ever considered a CD or even a trust for the money? These are just some thoughts
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