Ask a Lawyer and Get Answers to Your Legal Questions
Hi Mary Ann,
Do you have a specific question?Thank you.
M. Strisik, Esq.
I have Medicare and Medicaid. I am somewhat disabled. I fear developers are going to make me an offer on my home. One I can't refuse. How can I sell and buy another house when I have been on Medicaid for ten years now.
Is your concern that you will make a certain amount of money that will no longer qualify you for medicare and medicaid?M. Strisik, Esq.
My Concern is medicaid will take my money and I will not be able to buy a new home. Also, I am concerned I will not qualify for medicaid. I am a breast cancer survior and I have lupus among other help problems, so I need all the medical help I can get.
In order to continue eligibility for long-term care Medicaid assistance, your countable assets must be worth less than $2,000. Your monthly income must be less than the amount that Medicaid would pay the nursing home monthly for your care. And, you must show that you did not transfer (give away) assets that would disqualify you from eligibility. Your current home is not a countable asset. Although, if you sell your current home, you lose Medicaid eligibility until you have spent down the proceeds from the sale.
I hope this helps.
So if I sell home which is in my name. I can keep money and buy another house. I would just lose Medicaid coverage until I was broke again. I feared that Medicaid would take the $200,000 plus they paid for my cancer treatments.
Thank you so much. I have lost sleep worrying over thistitle="Embarassed" width="18" height="18"/>
Happy New Year!