No money. What are we supposed to do? -

No money. What are we supposed to do?


My father has been in a nursing home for 2 years and has yet to be approved for Medicaid. He has some long term care insurance but that is about to run out. My sisters and I cannot afford to pay for his care and his retirement income is not enough to pay for his needs as well as our mother's who still lives in their house. What are we supposed to do?

This question has been closed for answers. Ask a New Question.


Catlover, when you apply for Medicaid, they will have no interest in impoverishing your mother. She will be allowed to keep enough of their income to maintain her life. She will be able to continue to live in their house. If your father owns the house jointly with her, then I imagine a lien will be put on the house if your mother should vacate it or die. If the two of them have been making this far on the money they had coming in, then all should be fine. The Medicaid people will help you to understand about what money can be kept by the community spouse. I hope that he is approved for Medicaid soon, since his insurance is running out.
Helpful Answer (1)

This question has been closed for answers. Ask a New Question.
  • Bells are ringing all over town as charities ramp up appeals for holiday donations. Use these simple strategies to give confidently and maximize your charitable efforts this season.
  • Seniors who depend on a fixed income to fund their retirement are vulnerable to inflation, but proper planning and investing can safeguard their spending power.
  • A roundup of web-based and mobile financial tools that will help you monitor your money, budget better and save more.
  • There are undeniable benefits to purchasing an annuity, but there are many different types. Careful planning and consideration are required to find one that is the best fit for your financial situation.
  • Many common retirement myths are completely false and end up harming your financial situation. With proper planning, you can help your parents continue to create wealth until their retirement and beyond. Avoiding overly conservative financial decisions can truly pay off.
  • Tips for how caregivers can talk about money and finances with elderly parents. Financial discussions shouldn’t be taboo as your parents age. Failing to talk about money matters with your parents could put you in a difficult position when it’s time to take over their financial decisions.
  • Numerous resources are available to educate a spouse or an aging loved one on the basics of personal finance, retirement planning, investing and more. In fact, some of these learning tools are both practical and enjoyable.