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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 2570
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Dad is now in a NH days. he will soon have to go on

Customer Question

Dad is now in a NH for 40 days. he will soon have to go on Medicaid. Are his two POA children eligible for some cash payments from his small $6500 bank assets?
I understand a total of 600 annually, to be divided among the two children? True?
Thank you, Ray
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.
Hi,Can you explain your question (So sorry, jusy nopt sure I completely undertsrtand) ... The rules for eligibility are based on Assets (many states cal this "resources," money in the bank, property, etc) and Income (social security, pensions, etc).Medicaid law doewsn't specifiy an amount that can be paid out to children (Other than it being a part of that asste number - $2000 or so in many states).Being POA just means that you do certain things on their behalf - depending on the terms OF that POA agreement..Can you tell me a little more about your source on that $600 number? (what that is supposed to be FOR)?.That would really help .. and then we can go from there....ThanksLane (I'll be here)