Can I opt out of Medicaid to avoid the spend down?

Follow
Share

And by doing so will I lose my extra help subsidy?

This question has been closed for answers. Ask a New Question.
Find Care & Housing
23

Answers

Show:
No one is forced to go on Medicaid - a person must qualify for lack of funds needed to maintain health care. So, as the others have said, we are missing some information or we don't understand your question. We'll try to answer better if you'd like to add more.
Take care,
Carol
Helpful Answer (0)
Report

Question is well meaning, and answers are too..However, without more context and details, no one can provide a definitive answer...
Only saying
Grace & Peace,

Bob
Helpful Answer (3)
Report

Medicaid to to kick in when there are no more resources which would mean the person would have already 'spent down' everything. You are not required to apply for Medicaid if you do not need the resources. If you do apply for Medicaid then yes, they will 'look back' over the previous years spending to see if any resources could have been used to care for the person but instead were gifted to relatives, etc.
To me this is only fair. Medicaid is paid for by the taxpayers, it is not an 'entitlement' program in the same way that Medicare is where you will have paid into the system through payroll taxes.
Helpful Answer (2)
Report

Interstellar, you asked this question three days ago, and ppl have gone out of their way, as is usual on this board, to provide helpful and very detailed answers. Have you read them? Could you provide a further explanation as to whether you mean medicare or medicaid? Please try not to leave us wondering.
Helpful Answer (2)
Report

Not sure exactly what you are asking what do you mean by opt out of medicaid? Perhaps you or someone here could clairfy what you mean.
Helpful Answer (1)
Report

MEDICAID?? or MEDICARE?
Helpful Answer (1)
Report

Yes, not sure either. As far as I know, Medicaid as a suppliment to Medicare has nothing to do with Medicaid that pays for long term nursing. Unless u can pay out of pocket the 20 percent that Medicare doesn't pay and your prescriptions. If u can afford a suppliment than u can't get Medicaid. My nephew, 25, is disabled by birth. He receives SS disability. He receives Medicare and Medicaid. He is also allowed to earn a certain amount. I don't see how opting out would have anything to do with a spend down. Are u sure you don't mean Medicare. This you shouldn't opt out of. You may be penalized later on when u do need it.
Helpful Answer (1)
Report

You can OPT out and not apply for or receive Medicaid Benefits. You can still keep Extra Help as these are two different programs. Don't do the spend down if you are not ready or interested. Meet with your local Area Aging Agency or Senior Center and find out how to maintain your independence and make your money last as long as possible while still staying safe in your own residence.
For people who rent and are moderately low income, moving to a Subsidized apartment can lower your outgoing expenses enough to free up more money to pay a caregiver or cleaning and laundry and grocery shopping help.
The money you pay a caregiver is exempt from calculation in your rent amount
Example
Income 2,000$ a month
Medical insurance and caregiver costs per month 900.00$
Income used to calculate rent is 1100.00$
It may help your money to last longer.
Good Luck
Good luck.
Helpful Answer (1)
Report

Aging care

First of all, let me warn you that if you have an unexpected medical emergency, there are definitely going to be unexpected medical expenses. If you're eligible for Medicaid, you definitely don't want to turn it down for this reason because unexpected medical expenses can be very high and drain your extra money very quickly. Additionally, private insurance can run pretty expensive per month. I checked into getting extra insurance beyond Medicaid, and I was told that policies start well over $100 per month. The only reason why I started looking for other coverage before I found out about my inheritance money is because I was having an awful time getting some things covered that were medically necessary. Some of the medications ordered for me were actually substituted for offbrands, meaning they were under another name. This is why I started looking for additional coverage. One thing that was mentioned to me by one insurance company if you get any other coverage and Medicaid finds out about it, you could lose your Medicaid. If you're on medical assistance along with other public programs, you really can't afford to buy expensive healthcare policies because your federal benefit money is very limited to a very small amount. This is why people are often very grateful for extra money, and that money so definitely be protected in some way or another.

What you can do is speak to your bank manager if you have extra money that you need to protect. You can see what your bank has offer, and if they don't have anything suitable for you, you can always check other banks.

Have you ever considered putting the money into a trust or annuity? They only downfall of having a trustee is the risk that they could easily steal from you. I recently learned this from a lawyer when I was investigating the possibility of putting my inheritance money into a trust. After hearing at least one nightmare story, I'm now rethinking the trust idea and I am considering an annuity. Yes, you can use some of the money to pay off what absolutely needs paid most, which is what I'm doing when my money comes. Another thing you can consider doing with your money is getting a car if you don't already have one and you need one. If you already have a car, you may want to consider whether or not keeping it is actually worth it since older cars would require you to pour money into them to restore them. Sometimes getting a new one is actually much better since you know that you won't be pouring money into it and depleting your savings.

There's another thing you can do with your body is to put it into a CD, which is the safest possible investment. Of course there may also be special high interest-bearing accounts that can help you to grow your savings.
Helpful Answer (1)
Report

Joy sissy not sure why you would be checked for income differences unless on Medicaid for the Blue Cross/Blue shield. If so, then you need to talk to your Medicaid office. If they now turn you down because of the Va money then all you will have to get is a supplimetal, it won't effect your Medicare.
Helpful Answer (1)
Report

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