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My father in law lives in New Jersey. He's 90 and owns s

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My father in law lives...
My father in law lives in New Jersey. He's 90 and owns his house outright. It's worth maybe $125,000. His only income is Social Security - monthly check is $1,262 which does not cover all of his living expenses. In April, he was approved for home health aides through Medicaid -25 hours per week. If he passes, will NJ Medicaid put a lien on the sale of his house to recoup the money? Also, can he get a reverse mortgage now just to draw maybe $500 per month to cover the gap for his living expenses. Otherwise, my husband and his sister have to contribute every month.
Submitted: 1 year ago.Category: Tax
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7/7/2016
Tax Professional: Barbara, Enrolled Agent replied 1 year ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,446
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Your father-in-law's ownership of his principal residence does not count as far as Medicaid is concerned. He will not have to repay Medicaid for the home health aides through Medicaid that Medicaid approved.

As to the reverse mortgage, it’s possible to take out a reverse mortgage and continue to receive Medicaid coverage.

Medicaid is a government-sponsored program designed to help low-income individuals handle health costs. To be eligible, an individual can only have liquid assets (cash in a bank) of $2,000 or less at the end of each month. If your father-in-law were to receive the lump sum from the reverse mortgage, put it in the bank, and use some of it to pay his bills each month, his Medicaid coverage may be affected.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 1 year ago

Just following up with you to see if you have any other questions. If so, please let me know, and I will be happy to assist you further.

Best regards,

Barb

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Barbara
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