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Will I have to pay medicaid back for having over $2000 in my…

Will I have to...

Will I have to pay medicaid back for having over $2000 in my checking account? I looked back and I've had to much money sense July. I was saving to get my roof fixed and didn't think about overage. Will I loose my medicaid? My balance now is under 2000 but previous balance is over?

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

I'm very disabled and depends a lot on my medicaid help

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Answered in 10 hours by:
3/26/2018
ABC Accounting Group
ABC Accounting Group, Financial Advisor
Category: Finance
Satisfied Customers: 889
Experience: Accounting Manager
Verified

Hi. Great Question. You should not lose your Medicaid. Did Medicaid request a savings balance?

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Customer reply replied 3 months ago
I turned in a copy of my checking account balance when I reapplied.
Customer reply replied 3 months ago
I was trying to save money to pay for some home repair. It's been over the amount allowed from July statement till now.

When do they usually give you their decision? You could state that it is a matter of timing of your deposits.

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Customer reply replied 3 months ago
I'm not sure how long it takes. I looked on line and all it says is not to let your balance get over 2000 dollars. I just wasn't thinking about hiding money.

Is it on your monthly statement as a balance of over 2k or is it during the month activity?

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Customer reply replied 3 months ago
My previous balance was over 2000 my current was like 1800. If they have me send in any past balance they will all show over 2000. I can not get in contact with the man who did my roof to try and get recite for work he did. I think he's left town.

If what you gave them is under 2k in total, you should be fine.

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Customer reply replied 3 months ago
Where it says previous balance it say like 2500. It does say my payout was 1600 for the month of Feb

If you can show spend-down, it should be fine. I would wait for the decision. Worst case scenerio is that they may deduct a part of the one month's social security amount from one of your future checks.

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Customer reply replied 3 months ago
Will they have me bring past statements or just this one. I'm totally homebound will I have to go in or will it be done over phone?

I am confident that it will be over the phone.

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Customer reply replied 3 months ago
Great. I would rather pay back medicaid then lose it. Most of my help comes from them. Will I have to file an appeal?

Let me know if this helps and if you have any questions. Best Wishes to You.

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They will not have you pay back Medicaid - worst-case, they will ask for you to pay back a part of the monthly social security amount. It will not stop your Medicaid coverage.

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Customer reply replied 3 months ago
Ok thank you.

You are very welcome.

ABC Accounting Group
ABC Accounting Group, Financial Advisor
Category: Finance
Satisfied Customers: 889
Experience: Accounting Manager
Verified
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