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Eldercare
Reply to "Is $400k enough to get someone into assisted living?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Talk to an elder attorney. Shouldn’t he try to gift his $400,000 to you/spend down so he can become Medicaid eligible?[/quote] He would have to live a minimum of 5 years from the time he divested the 400K till he applied for Medicaid or else they would claw it back. [/quote] Medicaid does not claw back. You spend it down so you have no money and then long term medicaid kicks in. You think you should have income and savings and that kind of government help? It's to help the poor. OP Dad is not poor. OP, go to one that does not have a buy in and just monthly fees.[/quote] Are you kidding? Medicaid will claw back if the applicant divested their funds to family/friends within five years (maybe longer now) of the time of application. [/quote]
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