Anonymous
Anonymous asked in Society & CultureCultures & GroupsSenior Citizens · 1 month ago

Is it true that you can’t have much of a savings account to get medicaid for a nursing home? I mean that you have to spend it down? And does?

Medicaid usually pay for everything?

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  • Flower
    Lv 7
    1 month ago
    Favorite Answer

    You must have below $2000 in total assets and a low income, determined by each county. If you have too much in assets you have to dispose of it before you can be eligible, yes. Medicaid for a nursing home will cover the cost but you also must also sign over your Social Security check to them. They will give you a small part of it for personal expenses. Nursing homes cost $7000 a month.

  • 3 weeks ago

    Yes, of course. Medicaid is welfare. Would you want millionaires to live off of the taxpayers?

  • Anonymous
    1 month ago

    It's not vastly different here in the U.K.  If you completely own your home it's unlikely anyone will get any help here because the house sale price will pay for the care until that runs out then the banked money will start being used until it's down to the figure agreed by government.  If anyone is seen to have given away a lot of money fairly recently that will also go against them as it will show that they gave people an early inheritance to avoid care costs. Governments are not fooled.

  • Anonymous
    1 month ago

    Yes, it's true. You can only have $2000.00 in order to qualify for medicaid. I believe once someone proves that's all they have they pay for everything, or really it's the taxpayers paying for everything.

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  • Judith
    Lv 7
    1 month ago

    Of course it is true.  Medicaid is welfare.  Why should the taxpayers cover costs if you can?  Once you've used up your resources then, and only then, will Medicaid kick in.  Which is as it should be.

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