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Money and Finances
Reply to "Why save for retirement if medicaid will cover your costs!?!?"
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[quote=Anonymous]It's doubtful your relatives will qualify for medicaid, please be aware that Medicare STOPs any type of nursing home support at 100 days. This happened to a friend of mine whose husband had had a stroke and never recovered. He was on life support. She visited an elder law specialist and she recommended - now this is for State of CA, a community proeprty state - that wife divorce husband if it appeared he was approaching the 100 day mark. After that, the state of CA would expect her to start using the remainder of her assets, sell off property, sell off second (modest) vacation home in palm springs, then primary home. She had at least 20 years to go for herself so couldn't afford bankruptcy. She went to a divorce lawyer and had the papers drawn up. Her beloved husband had a heart attack on the 99th day and died peacefully. A really horrible experience for her. SAVE SAVE SAVE. I doubt much of Medicaid or Medicare will be left by the time some of us need it. [/quote]
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