You see an elder law attorney to figure out how to assign her money to the nursing home if this is monthly income; in the case of it being assets they will have to be spent down. An attorney is well worth the fee which is paid for by her assets to figure out how best to do this according to the laws of the state in which you live.
Do go up to the blue timeline, to the magnifying glass and type in Igloo or medicaid and you will see a lot of questions and answers. Also to to topics and type in medicaid. You can also call medicaid in your area and ask for an advisor to answer questions for you; have the details at your fingertips.
Here's how it goes with Medicaid and this has been explained many times on this forum, but once more won't hurt.
"She" can still go into a nursing home. Her assets (real estate, bank accounts, investments, savings, etc...) will have to be spend down paying for the nursing home until they are gone.
After they have been spend down, "she" will then be giving over whatever monthly income she receives to the nursing home and that is when she will get Medicaid that pays for the rest.
There's no way to preserve assets from a nursing home or Medicaid. "She" would have had to get assets out of her name for usually at least five years before needing to be placed in a nursing home. If this was not done and she needs to be placed, her assets will have to be liquidated to cash-pay for the nursing home until they are gone.
If "she" is married the nursing home and Medicaid are only entitled to half.
Every State has an Aging department - Area on Aging, Aging Services, Area Agency on Aging, ... Each should have care navigators (aka options counselors, ...) who work one-on-one with families to help them identify resources for which they're available. It's a good place to start.
Medicaid rules vary by state, therefore you should take her financial info and consult with a Medicaid Planner for her state of residence.
Some states allow some like a Miller Trust, where her "excess" funds go into this trust so that her income level then qualifies for Medicaid. Upon her death, the money that went into the trust goes to the state to pay for her care. Ask an elder law attorney or estate planner about this option.
Most states' Medicaid only covers LTC, which is assessed by a doctor as medically necessary (and usually means the person has no mobility, or is profoundy ill). The application "look back" period for most states is 5 years. A Medicaid bed means a shared room.
That's when you see an Elder Law Attorney with a full list of assets/liabilities/income and work out whatever you can to qualify to get help. There are ways. They know them.
Do go up to the blue timeline, to the magnifying glass and type in Igloo or medicaid and you will see a lot of questions and answers. Also to to topics and type in medicaid.
You can also call medicaid in your area and ask for an advisor to answer questions for you; have the details at your fingertips.
"She" can still go into a nursing home. Her assets (real estate, bank accounts, investments, savings, etc...) will have to be spend down paying for the nursing home until they are gone.
After they have been spend down, "she" will then be giving over whatever monthly income she receives to the nursing home and that is when she will get Medicaid that pays for the rest.
There's no way to preserve assets from a nursing home or Medicaid. "She" would have had to get assets out of her name for usually at least five years before needing to be placed in a nursing home. If this was not done and she needs to be placed, her assets will have to be liquidated to cash-pay for the nursing home until they are gone.
If "she" is married the nursing home and Medicaid are only entitled to half.
Some states allow some like a Miller Trust, where her "excess" funds go into this trust so that her income level then qualifies for Medicaid. Upon her death, the money that went into the trust goes to the state to pay for her care. Ask an elder law attorney or estate planner about this option.
Most states' Medicaid only covers LTC, which is assessed by a doctor as medically necessary (and usually means the person has no mobility, or is profoundy ill). The application "look back" period for most states is 5 years. A Medicaid bed means a shared room.