Elderly parents, disability, medicaid and social security - your experiences
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Anonymous
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Has anyone had to go through the process of having a parent or older relative declared disabled, and deal with their "entitlements"?
My step dad is having some health problems and I think he's going to lose his job and remain unable to work. He's only in his late 50s. I know that if he is determined to be disabled, he can begin to collect his (paltry) social security. My concern is with his ongoing healthcare needs. I understand that in order to be on Medicaid, he has to basically be destitute. They won't count your car and house against you but any other assets have to be depleted before you can participate in Medicaid, is that correct? There are certain circumstances where some property can be transferred to others so it doesn't "count against you" with Medicaid. http://health-care.lawyers.com/medicare-medicaid/9-Medicaid-Myths-That-Could-Cost-You.html I know that a discussion with an attorney is probably in order, but I wondered if anyone had actually been through the process of preparing an elderly relative to be on Medicaid, and what you learned from the experience. Thank you if you can share anything. |
Anonymous
| If he is marrIed, his wife can keep the assets if she says she relinquishes the responsibility of his care. Otherwise besides a house, car and funeral/grave site pre paid plans, you must spend down all the assets on his care. When money is gone, then he can be taken care of by medicaid. There is a 5 year look back on gifts so don't take any gifts. They will ask for it back. If the spouse does keep the assets, there is a maximum amount she can make per month. |
Anonymous
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I went through this not long ago. Your information is essentially correct, especially the part about consulting an attorney.
Medicaid is a STATE program, and there are differences from state to state. So a random person's experience might not apply to your step father at all. |
Anonymous
| After two years on Social Security Disability, I think he'll be eligible for Medicare. |
Anonymous
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He and my mom are not married, they've lived together for 25 years. Specifically so that my mom would be entitled to the social security benefits from 20 years of being married to my dad as a SAHM.
Her state does not recognize common law marriage. So I don't think her assets would be an issue. My concern is whether stepdad should transfer some assets to her. They are not wealthy by any stretch. I know about the five year look back 
Anyone use a trust to overcome these problems? |
Anonymous
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You really, really need to consult with someone specializing in financial management and senior issues. I'm the OP from this thread http://www.dcurbanmom.com/jforum/posts/list/253559.page#2818024 . I can't tell you how much I wish we'd had the assistance of someone when my FIL's health began to deteriorate. There are so many complexities that you really need a specialist in each area to make sure you're making the best decisions you can. You have no idea what some of the repercussions are.
I can recommend Amy Oviedo at Integrated Financial Partners. She's in the Tyson's area. We used her first to assist us with our IL's financial situation. My MIL had died, my FIL had a massive stroke and was in a nursing home. Not only was she knowledgeable about financial planning, she also has a huge network of people that helped us - lawyers, home health aides, Medicare/Medicaid assistance, etc. She's been fabulous. Best of luck to you. I hope you don't have to go through what we went through. Amy M. Oviedo, CLTC Wealth Planning Advisor Tel 703-896-7638 Fax 703-563-9115 Amy.Oviedo@IFPadvisor.com www.ifp-nova.com |
Anonymous
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You need to get a long-term care insurance policy on him and quick...i wish i had done this 3 years ago when my mother (parents are divorced) suggested it...
now my father is broke...paltry social security and trying to qualify for his state's medicaid... GET LONG TERM CARE INSURANCE..the little you pay or they pay each month will be worth it a few years from now. |
Anonymous
| Wow pp, that's terrible. Thanks for posting. Have there been any new developments in your case? |
Anonymous
| 13 49, I dont think you can get l t c on someone who has been as sick as my step dad. |
Anonymous
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13:49 here -- i would try for the long term care...
my father is still in his home...and trying to get medicaid and move into subsidized senior housing... however...my father is a "special case" altogether... not one to do what people tell him needs to be done to take care of his business...then looking around for help when his lack of preparation or irresponsibility results in disaster...but i digress...this is OP's thread. |
Anonymous
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OP, I recently went through this with my father and it is stressful. Peace and best wishes to you.
Your stepfather should be able to qualify for SS Disability - he will not be eligible for retirement benefits yet. Someone who qualifies for disability is automatically switched over to the SS retirement fund once they age into the program. In addition, if he qualifies for disability he will also qualify for Medicare two years later regardless of age. http://www.ssa.gov/dibplan/dapproval4.htm Please be sure he enrolls for BOTH Part A and Part B as soon as he is qualified - you incur a financial penalty on the premiums you have to pay for every year you wait. In the meantime, he will need to go on Cobra or buy private insurance to cover any medical costs. Regarding the issue of assets, they do not count the vast majority of your personal possessions as assets nor do they count the value of your home or vehicles. They are considering assets like retirement accounts, private pensions, or other investments or cash savings. I don't know about valuables or gold coins or the like, but I'm guessing your SF doesn't own such things. And you are right about Medicaid - you have to have less than $1000 in income per month (which is unlikely if he goes on disability) to qualify. Finally, long-term care insurance is expensive to purchase once you are already ill because it is medically underwritten. I don't know the particulars of the situation or how much your SF has in assets, but if he doesn't have much to begin with it may not be worth the cost at this point, even if he could qualify for a policy. Good luck! |
Anonymous
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"He and my mom are not married, they've lived together for 25 years. Specifically so that my mom would be entitled to the social security benefits from 20 years of being married to my dad as a SAHM.
Her state does not recognize common law marriage." If her state does not recognize common law marriage, how if she entitled to your father's social security benefits? |
Anonymous
OP is posting about step-dad, not bio dad. |
Anonymous
Does it make any difference? |
Anonymous
Yes. My mom gets her monthly ss benefit by virtue of her past 20 year marriage to my dad. She lives with her boyfriend or partner or my stepdad or whatever you want to call him, and has for 25 years now. When Medicaid looks into my disabled stepdad's finances, they will not be able to consider my mom's assets or income because my mom and my stepdad are not married. I think. Basically I need to figure out if there's anything I should be doing to protect my step dad's assets before he becomes totally unable to work and needs medicaid. From googling it sounds like a trust might help. I'll continue to research. I'll post back any answers for dcum posterity  Meanwhile if anyone has been there done that, I'd like to hear your stories too.
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