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MStrisik
MStrisik, Attorney
Category: Legal
Satisfied Customers: 288
Experience:  General practitioner; former litigator.
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Hello, I have medicaid now and I want to sell my home and buy

Customer Question

Hello, I have medicaid now and I want to sell my home and buy another. Mary Ann
Submitted: 8 years ago.
Category: Legal
Expert:  MStrisik replied 8 years ago.

Hi Mary Ann,

 

Do you have a specific question?

Thank you.

 

M. Strisik, Esq.

Customer: replied 8 years ago.

Hello,

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.

Sincerely,

Mary Ann

Expert:  MStrisik replied 8 years ago.

Mary Ann,

 

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.

Customer: replied 8 years ago.

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.

Sincerely,

Mary Ann

Expert:  MStrisik replied 8 years ago.

Understood.

 

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.

 

M. Strisik, Esq.

Customer: replied 8 years ago.

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.

Sincerely,

Mary Ann

Expert:  MStrisik replied 8 years ago.
You will not become indebted to Medicaid. You will lose eligibility for Medicaid until you are eligible once again.

M. Strisik, Esq.
MStrisik and other Legal Specialists are ready to help you
Customer: replied 8 years ago.

Thank you so much. I have lost sleep worrying over thisEmbarassedtitle="Embarassed" width="18" height="18"/>

Happy New Year!

Mary Ann

Expert:  MStrisik replied 8 years ago.
No problem.

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