Instead of the insurance advisor your sister needs to talk with a local social security attorney or elder law attorney to see that her low income subsidy options are. Keep in mind that any type of low income program is designed to help those truly in need, not those that have $31,000 investments.
DISCLAIMER: David J. McCormick is licensed to practice law in the State of Wisconsin and this answer is being provided for informational purposes only because the laws of your jurisdiction may differ. This answer based on general legal principles and is not intended for the purpose of providing specific legal advice or opinions. Under no circumstances does this answer constitute the establishment of an attorney-client relationship.
Do not take legal advice from an insurance agent. Contact an elder law attorney.
Actual legal advice can only be provided by an attorney licensed in your jurisdiction, with experience in the area of law regarding your question. The information provided is for informational purposes only and is not legal advice.