I have a question about Medicaid qualificiation.
We sold my mother’s home in June of this year 2103. It sold for $61K, less the improvements I had to put into it ($6K), she netted $55K.
Does the Medicaid “penalty period” begin from the date of the sale of the house?
Or does it begin from the date of application for Medicaid?
Or does it begin from the date that she goes into the nursing home?
She still has some of the monies left over from the sale of the house. She paid off bills, all of which I have documentation for. I am holding back the balance to pay any taxes on the profits, in case there are some. So she doesn’t qualify for Medicaid at the moment.
Should I start the application process now to get the “penalty period” started or can I wait until the balance of her checking account is paid down?
I do need to see an elder attorney about this, and I will. I was curious what the folks on this site had to say about it.
I live in Oregon