My uncle is single 65+ and currently in a nursing home in state of New York. The Medicaid process has began and is almost complete, but I'm curious on a few things. I understand he's allowed $14,850 in an account. What happens to his monthly pension? Does that go directly to Medicaid? Does he get to have any monthly income?
Right now he has a savings account with $8,000 in it, is that going to be lost money? Is there anything I can do to pull out that $ or do something so he doesn't lose it? I know they have a 5 year look back period. Do they have a dollar amount they look for, like say anything over $1,000?
We do have a senior planner and I do plan to ask bunch of questions, but it's of course the weekend and she won't be in until Monday. Thanks!