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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3440
Experience:  37 plus years of SSD practice
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Medicaid ----what is the penalty over the asset cap

Customer Question

Medicaid ----what is the penalty for being over the asset cap of $2,000. the last few months she was under but prior months over. We did not charge or daughter for months that we paid for her sheltered workshop. We could recalculate assets at the end of each month.
she got a lump sum for Medicare in Sept of 2014
Submitted: 2 years ago.
Category: Social Security
Expert:  PDtax replied 2 years ago.
Welcome to the site. I'm PDtax, and will be helping you today.
www.ssa.gov/ssi/spotlights/spot-sell-resources.htm covers the ssdi limit math, and how you repair or should repair the excess asset issue.
The penalty is potential loss of benefits.
Typically, a recipient receives an asset, like a car, or cash, that puts them over. SSA will continue to pay benefits conditionally (9 months) once you notify them and start to sell off the asset.
As long as you notify the agency of the issue, and agree to fix it quickly, they will work with you.
Thanks for asking at just answer. Positive feedback is appreciated. I'm PDtax.