All of our savings are joint accounts. My husband has been ill for several months, and the medical bills are piling up. We’re both on Social Security so we cannot afford to pay off all the out of pocket bills each month. I’ve had to dip into savings. I’m afraid I’m going to clean out the savings and not have anything to supplement my income when he’s gone. He’s had numerous ER visits, a few hospital stays and a few surgeries between two hospitals, numerous specialists, tests, treatments, and has several prescriptions with one being a couple hundred dollars a month. This week alone it caused me to pay about $500 to fill prescriptions and pay the out-of-pocket for 5 doctor appointments/tests/treatments. I’ve set up a payment plan with one hospital who let me set the dollar amount I felt comfortable with. However, the second hospital insists on me paying $150 a month, which I cannot afford. If I don’t pay the balance in full soon or commit to the $150 a month, they are turning me over to collections. I always thought that as long as I paid something they could not send me to collections and they had to take what I could afford to pay. However, I have learned that in my state that is not true and what they are doing is legal. I was told that if he passes, I am not responsible for his medical bills, but they can sue his estate, which is mine!
This is state and local county specific. Interview at least three and ask around for referrals from piers.
Wishing you strength through this difficult time. It will not be easy but so worth the time, effort and money to work with an attorney to preserve your income and set up a plan for each of you long term care goals.
As well as this the attorney will discuss with you division of assets, how best to do it for your state (do not buy into a irrevocable trust of any kind at this point) and how to do division so your own needs are protected and provided for. Know what his monthly income is if it is over application for Medicaid limits for your state should anything here progress. That would involve at some future time need for a Miller Trust or a QIT trust which attorney will explain.
This is well worth an hour of time with an attorney and is much better than taking advice from strangers who don't know you, hubby, diagnosis, prognosis, assets, state laws about marriage and how things are held in your state.
I wish you best of luck. Just as you wouldn't come to us to ask what the treatment is for hubby's illness, we aren't legal experts, nor financial experts.
Igloo her is the best one to get you to a good place even knowing the questions to ask.
She isn't here daily but is a whiz when she is.