Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Where can I learn about medicaid and how much money one can keep when going into a nursing home?

I had to put mom into a nursing home costing over a hundred dollars a day. She has about 30K in the bank but the nursing home will eat that up in less than 10 months. What then? And can she keep any money if she goes on Medicaid?

2 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    There is a tiny amount such as 3k one can keep and qualify for medicaid.

  • 1 decade ago

    Medicaid is administered by each state separately, so the rules will differ a little. You should be able to find good info from a state web site if you search for it. Often they will provide counselors over the phone.

    You don't mention if your dad is still alive. If he is, he will not be impoverished by Medicaid. I think they allow you to keep your house, one car, and some other assets.

    Here in TX I think you can keep around 1,500 in an account and still qualify. The nursing home will want to take her entire Social Security check, giving back around $60 per month.

    These are numbers I think I heard properly, but your best bet is to check out your state's Medicaid office and they'll be happy to help you with your questions.

Still have questions? Get your answers by asking now.