?Can nursing home take my mom's life insurance when she runs out of her savings and goes to medicaid?
1 attorney answer
To be eligible for Medicaid, a single person must have under $2,000 in countable assets. Cash/surrender value of life insurance is considered a countable asset in almost all cases, so your mom will not be eligible for Medicaid if the cash/surrender value of her life insurance plus her other countable assets are over $2,000.
You might consider meeting with an Elder Law attorney to guide you through these issues, and possibly assist in filing the Medicaid application. I hope this is helpful to get you started.
The information contained in this post is provided for general informational purposes only, and is not legal advice. You should not act or refrain from acting on the basis of any content included in this post without obtaining legal advice.