Medicare Question

[jetsmell]

I'm 68 yo., my live in girlfriend and 8yo child ( not mine ) have been living with me for over 8 years. We live in Ohio. The only income we get is my monthly SS Check and about ten thousand a year from side jobs. We all receive a modest 98. a month in food assistance. Our medical is covered by the government. We have no personal medical policies.
My girlfriend will be receiving about 80,000 from a family will. I was planning on putting that money in bank accounts with my name and her name with the word ' or ' between our names.
My question is, if we do that will we still receive food assistance and more importantly government medical coverage? Thank you

 

[senior-advisor-indiana]

I'm 68 yo., my live in girlfriend and 8yo child ( not mine ) have been living with me for over 8 years. We live in Ohio. The only income we get is my monthly SS Check and about ten thousand a year from side jobs. We all receive a modest 98. a month in food assistance. Our medical is covered by the government. We have no personal medical policies.
My girlfriend will be receiving about 80,000 from a family will. I was planning on putting that money in bank accounts with my name and her name with the word ' or ' between our names.
My question is, if we do that will we still receive food assistance and more importantly government medical coverage? Thank you

Just donate the $80k to your favorite charity so you can keep sucking on the government teet... problem solved.

 

[xrac]

That is a question to direct to a government worker or an attorney not an insurance agent.

 

[sman]

Just donate the $80k to your favorite charity so you can keep sucking on the government teet... problem solved.

Daaaaayuuuuum!!! SAI coming at 'em hard.

 

[Northeast Agent]

Yeah, an attorney may advise you to set up a trust to "hide" this asset... I know someone on partial Medicaid whose parents have a trust set up for her so when they pass away they can leave her something so she can still still qualify for Extra Help, Medicare Savings Plan, etc. Pretty shady, IMHO.

But I also know someone who qualifies as a full dual (DSNP) who only has Original Medicare and a Part D who needs major dental work, and Medicaid recently discovered she has a life insurance policy with $28,000 in cash value. They are taking that and the dentist is accepting it as payment in full for the major work she has to have done. She's my uncle's ex-wife and he's po'd as he was the beneficiary on the policy, but why should tax payers be footing the bill for her teeth?

 

[goillini52]

Yeah, an attorney may advise you to set up a trust to "hide" this asset... I know someone on partial Medicaid whose parents have a trust set up for her so when they pass away they can leave her something so she can still still qualify for Extra Help, Medicare Savings Plan, etc. Pretty shady, IMHO.

But I also know someone who qualifies as a full dual (DSNP) who only has Original Medicare and a Part D who needs major dental work, and Medicaid recently discovered she has a life insurance policy with $28,000 in cash value. They are taking that and the dentist is accepting it as payment in full for the major work she has to have done. She's my uncle's ex-wife and he's po'd as he was the beneficiary on the policy, but why should tax payers be footing the bill for her teeth?

They shouldn't.

 

[Daniel Gallagher]

I would look at your options to see how bringing in income will change your situation. I am not sure if you are Duel (Medicare & Medicaid) or just receiving LIS. Look at page 97 of your Medicare book and make sure you are within guidelines. It is clear how much assets you can have. I am a licensed agent in Ohio and can look further into your situation if you would like. (440) 454-9898. Dan