Mom has some stocks of 100.000 and owns low income condo, can she get Medicaid?

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she is on social security and is 89 yrs old does she qualify for medicad

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Social Security is money she earned because she paid in during her working years (and/or her husband did.) That's an entirely different issue. She likely is on Medicare, as well, for her health insurance. Again, this is a combination of Medicare A, which has no co-payment and Medicare B, supplimental and Medicare D, all of which require payments.

As Vegaslady said, Medicaid is aid for the poor. Your mom has the assets to care for herself in any manner she chooses for quite awhile. Once she has spent down her assets, she then would qualify for Medicaid.
Take care,
Carol
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she could get a 2014 maserati with spinner rims with that kinda money. medicaide, prob'ly not.
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Stocks are going to be an non-exempt asset whether no matter what the value is. Stocks are like 401K or life insurance policies with any cash value…they will need to be liquidated or cashed out with the proceeds going towards her care and the spend-down if she applies for Medicaid. Medicaid needs to have their financials pretty limited…so a house & car in their name, a simple bank account which can have up to 2K in assets and in which their monthly income (like her SS) goes into is OK. Bank accounts that are tied into money markets usually have to be closed out and changed to a simple checking account. Mom or whomever is her DPOA (and has it indicated they can do financial aspects of the DPOA) will need to contact her broker to close out accounts. It can take a bit of time depending on how the account(s) is/are set up. Brokers deal with this all the time.

Brokeage accounts will be tied to her SS # so it will come up eventually as an asset…there is not real way around it. Good luck.
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No. Medicaid is for people with low income and little in assets (like around $2,000). Expect to have her start liquidating her assets to pay for her own needs. The rest of the taxpayers will help out after she has done what she can for herself. Look up the Medicaid requirements for your state online. Then you might consult an elder law attorney as to how to do this right.help out throughMedicaid when she NEEDS it.
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I never heard of a low income condo ownership. Are you sure? I know there are Section 8 condos, but they are subsidized rentals. How much in the bank, I can't tell if you meant $100 or $100,000?
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She probably means low rent condo. Just a guess!
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People can meet medicaid requirements and still own property.
upon the death of, the state has dibs on the property for payment.
But with that kind of money, she doesn't qualify for medicaid.
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There is a kind of tax shelter that involves owning low income rental property????
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$100,000 will pay for about 1 1/2 years of NH care. Wilsonj, have you heard about Medicaid spend-down? Mom can spend a good deal of money on personal things like hearing aids, new glasses, a prepaid funeral, and dental work with no penalty.

Write back if you need more info.
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You only qualify for medicaid if your asset is $2000 or less. But if your mom have long term care insurance partnership policy, it has an asset protection which would not require her to spend most of her asset and keep $2000. Supposed your mom has a total asset of 300,000..and then she entered a nursing home and used all her benefits(provided she bought a policy worth 200,000) without the long term care (LTC) insurance partnership policy, she is required to spend 298,000 before she can apply for medicad..but with the partnership program, she only needs to spend 98,000 because she is allowed to keep $2000 asset and the partnership policy provided the 200,000 asset protection.
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