My uncle in Pennsylvania put my name on his savings and checking accounts. My uncle gets his retirement and social security in his savings account and then puts it in his checking account. I put or get no funds in either accounts. I have Medicaid qmb in Arkansas. The bank in Pennsylvania never asked for my social security number just my driver's license and passport card. Should I be worried about losing my Medicaid? I live in Arkansas my uncle in Pennsylvania. I was wondering if someone could answer my question. I need some help. Thanks
Your uncle is the primary owner of both accounts with your name on them. You are the secondary owner. If I'm understanding correctly, since you have never taken or added any money to either account, you would be "in name only" status. That would be provable by bank records.
I know what Medicaid is but what's the 'qmb'?
I don't think Medicaid checks accounts in other states. They take the information you give them. I believe there is a limit on how much you can earn working being on Medicaid but I don't think your uncle's account would disqualify you.
Did your uncle designate you as a "Joint Owner," or did he make a beneficiary designation on the accounts, so it will be POD (payable on death) or ITF (in Trust For)? Or, did he name you as a co-signer with authority to manage the account for him? Banks have several ways to help their customers provide access to trusted family members.
If you are NOT a "Joint Owner" now, there is no effect on your asset limit for a Medicaid program. But when the asset does pass to you, the account value gets added to your assets, and your eligibility could be affected.
Talk with an elder law attorney in your state, so you can tell your uncle what he needs to do, to protect your interests, along with his intentions.