Pros and cons of starting Medicaid spend down?

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Or just wait out 5 year ineligibility period. We are at the money part when we just have enough to go either way. But we do have to make a decision and stick with it. Mom could go longer than her money. We are working health care in her home. She just can't be alone.

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Thank you all for your feedback. This situation sucks for all who have to go through it.
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All family money will go for moms care. After all they earned and saved it. The money should last the 5 year look back with carefull eyes, and a willingness to help. I'm not going to file for Medicaid to start spend down. Dad said keep government out of it.
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I don't understand your question because I can hardly bear to think of all OUR money going to care for my husband in the NH. You have 100% of my sympathy.

I know he needs to be cared for, and that I need to pay for it, but he is young-ish (71) and healthy in spite of ALZ. We have, relative to some, a "lot" of money, but what if he lives 20 years? We don't have anything like the $2,000,000 that would cost.

We live in an expensive housing area. If we sell the house, we would be able to pay for more of his care, but then all our money would become available and would not be sheltered for my lifetime. I don't want to become impoverished. I don't expect to be able to go on world tours, but I would like to be able to afford a restaurant and maybe an annual plane trip to visit relatives.

I guess it's time for another trip to the Elder Lawyer.
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To piggyback on to Jeanne's answer, you need to show that any monies spent in the 5 years prior to applying for Medicaid were spent on mom and her care.

You really should have at least a consult with a Medicaid-savvy Eldercare attorney.

I for one would be in favor of visiting every possible facility in the area, with a continuing care facility being the best choice. I'd get mom on all their waiting lists.

You never know when she's going to fall, have a stroke or some other disaster that renders her not able to stay st home any longer. If you've done your homework, you know where you want mom to go for rehab ( PAID FOR BY MEDICARE) and then transition to long term care.
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I don't understand the waiting five years part of this. I'm really not sure what you are asking.

Your mother has too much money to qualify for Medicaid now, right?

At the rate she is using it, she'll have enough money to stay in her own home with 24/7 care ... for how long? Is that where the five years come in?

If the place you would like to place your mother if she needs placement requires 2 years of private pay before they will accept Medicaid, then it sounds like you need to place her while she still has enough money left to pay privately for two years.

Does this get at your concerns? I think we are confused because "5 years" is also the Medicaid look back period, although that does not seem to be relevant here.

My heart goes out to you. It is hard enough to see your wonderful mother declining -- to also have to figure out the finances for her long-term care must be very stressful.
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I do not understand the waiting five years before you apply for medicaid. Has she given away assets so the five year lookback comes into play? Are her assets going to last about five years? What if she had a major medical issue and needed a nursing home? Would she have assets to pay once Medicare stopped?
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My mom is the very best woman there is. She just cant do it and stay alone. Very hard of hearing and dementia. Plus trying to process the lost of her husband. Our family money is neck and neck with Medicaid ineligibility period and running out naturally. Should we start paperwork now as an insurance or just hope it all works out naturally. I believe these facilities want at least 1 to 2 years private pay.
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No debts or anything. We are just trying to figure out long term care for the rest of her life. We have her in her own home with 24/7 care. She's mobile no medication dementia going on. We are trying to figure out best time to place her in a NH with timing of funds running out and Medicaid being able to pickup. No family willing to take her in full time.
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What would you do differently than you are doing now if you started spending down? Does your mother have some debts or anything particular she needs to buy before potentially going into a nursing facility? Or could she continue like she is now until her resources run out?
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