My mother is 87 and in failing health. Can no longer live alone without 24-hour caregiver assistance. She has been living in a condo that I own, but keeps falling down, and went into hospital, then skilled nursing facility. Skilled nursing facility says she can no longer qualify for their care as she "is not bad enough", but she cannot go to bathroom without very much assistance. Mom has about $40,000 in savings, and received $1,700/month social security.
Question: Does it make sense that I find her 24-hour in-home caregiver and spend down the $40K, then apply her for Medicaid benefits? At that point, she would also become eligible for$1,100/month in VA benefits from my deceased father. Then, I would need to transition her into a Medicaid-eligible assisted care facility or skilled nursing home? Wondering if it may be typical to find a facility in which to "spend down" the savings and receive some type of guarantee that, when the money runs out, the facility would keep her while then only receiving the social security an VA benefits? My fear is running through the cash, then having no Medicaid eligible residence lined-up. Thanks very much for your consideration.
Consult with an elder law attorney as more information is needed to fully advise you. I think you have the right idea with being cautious with her money in light of possibly needing Medicaid in the future. As long as all of her money is spent legitimately for her care and you document everything, you will be on the right track. There are some nursing homes that will keep a person whose finances run out, after they transfer to Medicaid.
I suggest you call an elder law attorney. Your question is too complicated to answer in this forum and there are other facts and factors that will determine the advice you need.
That being said, there are potential benefits to either strategy you are considering. One thing that you want to avoid is to have all the money run out before you have applied for Medicaid as it will be very difficult to find a decent nursing or assisted living facility under those circumstances.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline