We own a house next door. If we move my Mom there with caregivers is the rent we receive an acceptable expense in the event SNF is necessary and there is a Medicaid look-back?
Yes, you can move your mom in to the house you own and charge her rent & utilites. To be on the safe side, have something drawn up by an attorney so that there won’t be any issues with Medicaid down the line. Medicaid does allow for personal living expenses.
Are you planning on declaring the rent as income? Is it a comparable rate paid in the area? Do you normally rent the property? Be aware that rental property as mentioned before is subject to local rules.
Are you talking about renting your Moms house or her paying u rent? If she is paying you rent, then I think a contract has to be written up with her being able to agree to paying you a certain amount.
If its renting her house, the money would need to be put aside for her future care. Rent should be high enough to cover taxes, water. You may be able to use the rent money for upkeep. If u plan on using it to pay her aides, then you need to keep good records. I suggest that you check with a lawyer versed in Medicaid. I would suggest you get info on renting in ur Township. Renting usually means a CO from the township saying the building is fit for occupation. I would also find out if aides need to be certified and taxes taken out of their pay for Medicaid to except the expense.
If its renting her house, the money would need to be put aside for her future care. Rent should be high enough to cover taxes, water. You may be able to use the rent money for upkeep. If u plan on using it to pay her aides, then you need to keep good records. I suggest that you check with a lawyer versed in Medicaid. I would suggest you get info on renting in ur Township. Renting usually means a CO from the township saying the building is fit for occupation. I would also find out if aides need to be certified and taxes taken out of their pay for Medicaid to except the expense.