My parents have approximately $100k in savings. How much of that is subject to spend down for Medicare?

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confusedson Asked December 2010

My parents have approximately $100k in savings. How much of that is subject to spend down for Medicare?

My mother is in stage 6 Alzheimers and I am afraid will soon need long term care. My father is still living and in reasonably good health. They live in a home that is owned by my sister and given to them through a life trust so that they may live there as long as they live. My parents have approximately 100 thousand in savings. My question is how much of that is subject to spend down, all of it or do they allow my father to keep a portion for his own existence.

Medicaid

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score 0 · Answer 1

I believe you mean "Medicaid" not Medicare. Medicare has no means-testing requirements, which means that you can have any amount of income or assets and still qualify. Medicaid, though, has strict limits. A married couple can protect $111,560 of countable assets, so it looks like your folks should be okay!

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Thinking the Soc. Sec. uses a 2-3 year window on what was spent or sold previously.......I would suggest getting a Durable POA and become an Authorized Representative. Take care of them...... OR spend as much as possible on their well being and medical care, hand rails, ramps, medical chair equiptment and such; keeping reciepts.

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score 0 · Answer 3

Talk to an elder care attorney.....this "spend down" refers to Medicaid assistance whether it is at home or if your loved one is in a nursing home. I know Missouri has a "5 yr look-back law".

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score 0 · Answer 4

I think you mean Medicaid, not Medicare, right? You need to know the level that you need to be at in order for her to qualify for a Medicaid Waiver. There is a figure, but I'm not sure what it is; I believe it's different in different states.

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My parents have approximately $100k in savings. How much of that is subject to spend down for Medicare?

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