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P. Simmons
P. Simmons, Attorney
Category: Estate Law
Satisfied Customers: 33104
Experience:  12+ yrs. of experience including estate law.
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How to qualify spouse without depleting our modest savings?

Customer Question

how to qualify spouse for Medicade without depleting our modest savings?
Submitted: 8 months ago.
Category: Estate Law
Expert:  P. Simmons replied 8 months ago.
Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. I am here to help
Also, if you would like to chat on the phone, let me know and I can make that happen.
Expert:  P. Simmons replied 8 months ago.
MEDICAID is a "needs based" program. That means that in order to apply you must provide the state with information on your assets and income. If your assets (savings) are greater than the threshold amount (generally $2K in cash) you have to "spend down" till you reach that level before you apply.Now...if you can wait before you apply, you could place your assets into a trust. This would protect the assets and allow you to collect the benefit. But there is a 5 year "look back" period...so if you wanted to do this, you have to make sure you will not apply for the benefit for at least 5 years before you apply.Otherwise, you can apply...but they will require you to spend down on the medical expenses until you reach the threshold (again $2K)Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.