I am the sole care taker for my mother and have a question about Medicaid look back. - AgingCare.com

I am the sole care taker for my mother and have a question about Medicaid look back.

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I am 64 single and viewing retirement. My 93 years old mother lives with me and I have been the sole owner of home since 2010. My mother receives monthly social security and has a small balance bank account under her own social security number for personal and future funeral expenses. Question I have is some 35 years ago when I was out of college and started working I open a bank account under my social security number and I listed my mother also as a account holder solely to do transactions for me if I ever became disable. Over the 40 years she never did any transaction nor ever deposit any of her money into this account. I declare the interest in this account on my tax earnings yearly since it is under my social security number.The money in the account is mine also my bi weekly pay check was direct deposited into this account for numerous years and can prove same, would this account I had my mothers name on with me solely for a matter to protect my interest be attachable by Medicaid for her, should if mother eventually needs to apply for Medicaid benefits if she enters a nursing home in years to come. As I say all the assets in the account are mine and I can substantiate same plus the account is under my social security number.


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It depends on how the account was titled and what the rules are in your state. If your mother's SS# never appeared on the account, then Medicaid would not be able to track it.
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one more follow up question - when Medicaid views a joint account - the funds in the account are they all attachable in the look back or is Medicaid only entitled to attach 50% where their is 2 joint account holders?
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angelkw - thank you for your answer and kind words - hopefully mother will be with mw a long time in good health and with me at my home - I have now closed that joint account -
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Is your mother listed as joint owner on the account or is she just an authorized signer? If she is listed as joint owner, then the money in the account will be categorized as fully 100% hers for the medicaid process. This is the drawback of dual owner accounts. It doesn't even matter if you can trace back every penny of the money coming from your employment, what matters is that an owner on an account has 100% interest in the account. I truly hope she is just a signor.

Angel
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