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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4542
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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My mother apply. Applications was denied since she and I

Customer Question

My mother apply for Medicaid. Applications was denied since she and I have over $2000 in our joint savings account what is the best way to resolve this? I was told I could change account only to myself but when we spoked with customer service at agency they told us it is not going work since they know account already exist as her assets.
Submitted: 1 year ago.
Category: Finance
Expert:  Rakhi Vasavada replied 1 year ago.

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

I am sorry but what the agency people told you is absolutely correct. Now, if your mother gets her name removed from the account, even then she would be subjected to 60-month look back as the Medicaid people now know that the money exists in her account. So, taking this route will NOT help.

Only other legitimate option left is to "legally spend down" that money. She can purchase a burial plot, PREPAY her burial expenses if not done already, and so on. If she legally spends down, she will not have any problem or else you are most likely to get stuck up.

The below link explains what are known as "EXEMPT ASSETS" in Florida. Just browse that link and see if anything is there you can spend down your money on.

I am sure this would help.

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Warm Regards,