Reply to Financially tough times...okay to ask uncle to help, considering circumstances...?

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Reply to "Financially tough times...okay to ask uncle to help, considering circumstances...?"

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[quote=Anonymous][quote=Anonymous]This doesn't make sense.
If your parents had also "borrowed" 150k and started a failed business, bought a house that didn't appreciate much and they didn't keep up, or otherwise spent it on themselves without investing, you would still have nothing. You are presuming your parents would have also made the money multiply, that is simply not known.
Also, as PP's have pointed out, [b]when an elderly and ill person goes through their own money, it is considered a "spend down" and they are eligible for Medicaid.[/b] You either got the story wrong, or your parents chose to private pay which seems unlikely since you say they don't have means to help you and private nursing care is $10-12k/month.
I hope you can work through this altered reality you have created, truly, and work towards helping your family succeed. [/quote]

That's not what a spend down is. It can be very confusing, because often people must spend their resources, and show receipts to account for it, to get themselves under the resource limit to become eligible for Medicaid. But if somebody tells you they have a "spend down," that's NOT what they are referring to (or if so, they are using the term incorrectly in Medicare-speak). If somebody tells you they "have a spend down," it means they are actually over the monthly INCOME limit for Medicaid, and therefore are required to incur a determined amount of medical bills each month before Medicaid will kick in and start paying.

I'm not even sure if this applies to OP's situation, but just wanted to point this out because it's so often used incorrectly.

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