What to do when money runs out for in home care?

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It takes one to two months for Medicaid to be approved.

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CarolC75: Kudos to you! I am surprised, yet glad, that you didn't have to go through the 5 yr lookback process. Hugs...((( )))
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Well, I just found out how it all works.. I completed the "short" application. Sent the required paperwork on my husbands irrevocable burial policy and the current bank statement showing he had under $2,000.
After that, I had to sign a letter saying a Mediciad Nurse Reviewer could go,to,the facility and do a level of care. Within, 3 days I received a letter saying he had qualified for Mediciad. It took approximately one month!
The facility said our particular state is one of the most efficient and timely with Mediciad approvals.
I'm all done and didn't have to address the 5 year look back, no previous bank statements, no previous income tax....just the 2-3 papers.
I'm so glad this is over and was so easy to complete. I'm 75 years old and couldn't have done so much leg work without getting some help.
So, bottom line....depends on your circumstances and the state you live in and how complicated they make it.
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Medicaid is financial only. It doesn't matter if you're sick or well. If your assets are under a certain amount , you can qualify for medicaid.
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CarolC75: We are an elder caregiving site, so o0Michael is just trying to guide you. And yes, be prepared for the 5 year lookback.
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Michael, what all will they ask for next for me to collect? Is it actual bank statements, all IRA accounts, income tax...what else? I don't have all these, I'll,have to go to the banks and ask for copies of each. Do people actually pour over all this stuff?! I suppose they have to do it...
Anything I'm missing here? And, thanks for your help.
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o0Michael: In general, people procrastinate...not all, but many.
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People wait too long when they could have prepared to qualify sooner so when they really need it the process goes faster. I am fortunate to have located someone with a lot of experience handling this. I do not have to undergo the steep learning curve. Even having someone doing the footwork it is still time consuming preparing the documentation for the specialist. If I had to do everything myself it would get delayed as it all poses a significant challenge.
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Yes, you could apply early and then not use it. But you cannot apply early unless everything is in order as far as the amount of money that a person has at the time. As I said, I was told to apply early and when I did, my husband still had too much money so I actually had to apply all over again.
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on Michael: Agree on the editing need.
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(This forum needs editing capability)
Individual circumstances are a major factor of course.
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