QUESTION
How do I prevent medicare from taking my mom's life savings?
Asked on Nov 09th, 2012 on Estate Planning - Michigan
More details to this question:
My mom had a stroke and long term care is good possibility. I would like to have medicare take over cost when her long term insurance expires if her health does not improve sufficiently to bring her home again. Is there a way to prevent this long term care from taking $60,000 in her name away or to qualify her without considering that money?
13 ANSWERS
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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An Attorney can assist you with medicaid planning.
Answered on Jun 18th, 2013 at 10:04 PM
Trust Attorney serving Cincinnati, OH
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Paul A. Nidich Attorney at Law
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You're probably talking about Medicaid. Medicare doesn't recoup money it spends. Your should discuss this with an Elder Law attorney.
Answered on Nov 14th, 2012 at 7:40 AM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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Medicare never takes anybody's savings. It provides health insurance for the elderly. Medi-Cal, on the other hand, provides assistance for medical expenses for the indigent. It is possible for your mother or a court to arrange her affairs so that some of her wealth comes to you instead of being use to provide for her support or to reimburse the government for providing for her support.
Answered on Nov 12th, 2012 at 10:20 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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Unfortunately there is a 5 year look back on transfers of funds without value for medicare purposes. So if her long term care will last 5 years, transfer the funds out of her name now. otherwise planning might be too late.
Answered on Nov 10th, 2012 at 4:15 AM
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I believe that you are referring to Medicaid, not Medicare. It is important to speak with an experienced attorney who can review the options and possibilities. Depending upon how long her long term care is, it may be possible. However, each State is different and so are long term care policies this it is important to seek qualified legal counsel to address the options, sooner rather than later.
Answered on Nov 09th, 2012 at 1:06 PM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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Probably not. BTW, it's Medicaid you're thinking of, not Medicare. Very different programs. Medicaid is a program designed for the poor, so you have to spend all your own money on care, and then, once you're poor, you qualify. If you have been a caregiver for your mother, you may be able to be paid for giving care, or it may be possible for you to take title to her house. See a good elder law attorney to find out if there are any options.
Answered on Nov 09th, 2012 at 11:58 AM
Only if you are lucky enough to make the change now and not need care during the 60 month look back period. You should consult an estate planning attorney with experience in medical planning.
Answered on Nov 09th, 2012 at 11:57 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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The money your mother has accumulated is for her care and not your inheritance, and should be used for her care so she does not become a burden on the taxpayers who may have to supplement her long term care insurance by paying for additional care costs.
Answered on Nov 09th, 2012 at 11:01 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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First of all, it is Medicaid you are concerned about, not Medicare. Medicare is a health insurance program for seniors. It does not pay for long term care. Medicaid is the welfare program that pays long term care costs for someone who cannot pay for themselves. Your summary mentions long term care insurance. That could have a dramatic impact on the need (or even the qualification for) Medicaid. More information is needed before any additional guidance can be provided.
Answered on Nov 09th, 2012 at 11:00 AM
Elder Law Attorney serving Auburn Hills, MI
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Byers & Goulding, P.L.C.
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Yes, but this is an area where you need an elder law attorney who is experienced with Medicaid planning. Your mother may be able to save at least half of her savings. Medicare will only pay for up to 100 days of rehab. in the nursing home. The program you need to be concerned about for long-term care is Medicaid.
Answered on Nov 09th, 2012 at 10:31 AM
Tax Attorney serving Naples, FL
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Henderson, Franklin, Starnes & Holt, P.A.
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Medicare does not pay for long-term care. Medicaid will pay for long-term care, but the majority of one's assets must be spent down first. The government does not "take" one's assets, but only provides care for the truly needy. I highly recommend consulting with an elder law attorney to see if any of your mother's assets can be preserved.
Answered on Nov 09th, 2012 at 10:31 AM
Alternative Dispute Resolution Attorney serving Baltimore, MD
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Whiteford, Taylor & Preston L.L.P.
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You mean Medicaid (not Medicare), and you need to consult an elder law attorney.
Answered on Nov 09th, 2012 at 10:29 AM
Trusts and Estates Attorney serving Troy, MI
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Barron, Rosenberg, Mayoras & Mayoras, P.C.
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Absolutely, contact an elder law attorney such as myself.
Answered on Nov 09th, 2012 at 10:27 AM