Reply to Elderly parents, disability, medicaid and social security

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[quote=Anonymous]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![/quote]

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