Reply to Why save for retirement if medicaid will cover your costs!?!?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]As PPs noted, life on Medicaid is anything but sweet.

Curious, OP, if your cultural tradition includes caring for aging parents in exchange for inheritance, why is Medicaid an issue at all?[/quote]

The above scenario works in the homeland, where typically the daughter or daughter in-law does not work outside of the home. It won't work for us here becauseboth my brother and I work and therefore can't provide the care. My parents never thought, does anyone?, that they would end up in a position to worry about this. So as they built up an inheritance for us, due to misinformation, they missed or misunderstood how medicaid works. They have a decent savings - a fully paid house, car and about 100-150K savings. [b]I just wished they enjoyed life more and didn't feel the need to save this money for me and my brother - esp since we are both working and contributing to our own retirement plans[/b].

I didn't realize that the care a medicaid recipient receives is different. My husbands undle was in a nursing home for rehab, ended up dying there, and he was self pay. I thought it was a horrible place, as a PP described, sad, old people left in wheelchairs in hallways, dilapidated rec area with various games that didn't work. [b]His estate went to his care [/b]and ti was awful.[/quote]

1.  Your parents do not need to save their money for you.  They need to take care of themselves with their money and not concern themselves with whether they will have anything to leave to you.

2.  "His estate went to his care" is inaccurate - his MONEY went to his care.  An estate is what is left after a person dies - prior to that, no one is entitled to it other than the person to whom it belongs.
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