I have been researching and asking advice about Nursing home Medicaid lookback. I know as the spouse my finances will also be scrutinized. My husband only has his Social Security monthly in his name. I know I cannot write any large checks bc they will be considered gifts if given to a child or grandchild. Not sure what amounts are considered too much. I am also not sure if my occasional ATM withdrawals ( need the cash to pay for certain things) and my Visa charges will also be scrutized. Has anyone had this happen? I heard they could use a forensic accountant to look into most transactions made during the 5 years. I have a friend whose elder attorney told her they will penalize you for any checks over $1000. Someone else told me too many ATM withdrawals could cause penalties. We are not at the point yet for nursing home admissions but my husband’s anxiety, frustrations and often anger are really wiping me out.
Any insights would be greatly appreciated. Thanks
Penalty for checks over $1,000? Not at all when they are paying for a new furnace or repairing your car. Checks written as gifts to each of your grandchildren? That could result in penalties.
You are very wise to be looking into this before your husband needs a care center. Do a thorough job and see a lawyer!
The couples whole income is considered not just the applicant.
As long as you keep records for any substantial amounts you should be fine - although poor You may have to make major lifestyle changes with a spouse on medicaid so be prepared for that.
You will be able to keep your house, one car and personal effects and I think about $2000 in cash. In your position i would make any major repairs needed to the house, buy a new car if needed, things like that which you may not be able to afford going forward.
So please see an attorney before doing anything drastic. Many of the limits people are quoting are for single people. Medicaid involving only one person in a married couple is a different thing altogether. It also effects recovery. If there is a surviving spouse then there is no medicaid recovery. It used to be only while the surviving spouse was still alive but I think last year they changed it to be no recovery ever.