How does having a joint bank account with my elderly parent affect their Medicaid eligibility?

Lesson learned. Do not put any of your own money into a joint account with that of a parent/parents. Do not write checks for yourself even if it is for reinbursement. Only write checks that will be on behalf of a parent to pay bills or their personal necessities.

Sounds like when you deal with Medicaid......you are guilty with every thing you do.....they want 'blood money'......they want it all.....'screw them'.

Think about it......a joint bank.....either person can withdraw any amount.......but if 'the other person' takes out all the money.......Medicaid wants to 'hunt you down'......'screw you'.......Medicaid! (the other person...being the one not going into a nursing home)

I was thinking about this one and trying to figure out how they could do this, and then I just thought, well either person can technically take out at once all the money. Kinda scary to think of all the ways they can get you.

Here is the Medicaid 'con'......they consider ALL of the money in a joint account to be .....owned by the Medicaid applicant......no....wait Medicaid......it's a joint account......these crooks don't care.......they hace 'the power' and they make the crooked rules.....hey Medicaid......shove it where the 'sun don't shine'!

Hey Medicaid.....you can shove it.....you ain't getting my money!

If the account is listed as "joint tenant" type, both signers own the full amount of the balance, so Medicaid may want ALL of it, and if you live in a state where children are held responsible for nursing home expenses, Medicaid may also go after other assets you have.

Since you've already informed Medicaid that the bulk of that $ is yours, now you'll have to prove it. Go to your banker and ask if they can provide you with records of transactions (e.g., direct deposit, slips signed by you, etc.) to complement the ones you already have. While there, open a bank account in your name and transfer what's yours. Or you can close the account and open 2 new ones. But let Medicaid know. The last thing you want is to be accused of hiding assets. That will definitely delay or deprive your Mom of medical services when she really needs them.

Thanks to Dunwoody you are correct, and I learned something new which is great, I did not take into consideration the Medicaid eligibility aspect and just thought about how a joint account is handled regularly.

I googled your question and found that the answer is right on this site. https://www.agingcare.com/questions/Elder-eligibility-for-Medicaid-146889.htm

I still believe it does not matter how much either deposited. One person on a joint account can spend the entire amount in the account without the other person's approval. It is joint, considered to be owned by both equally.

As long as you can show a 'money trail,' that is that you are the one who deposited the majority of funds into the account, you won't have a problem. Keep records of everything you do in this situation. Again, it's all about the money trail for them, which is why book keeping remains vital for Medicaid approval.

I Agree with Madeaa..You should only deposit SS in their acct...

It is my understanding that the money in a joint account would be considered evenly in say closing it. If you and mom or dad have 100,000, then they get 50,000 and so do you. It is not how much each of you put in originally, that is not an issue, it is considered joint ownership and divided in half if there are two or between however many are on the account.