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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
- 1 decade agoFavorite Answer
There is a tiny amount such as 3k one can keep and qualify for medicaid.
- Equality 7-2521Lv 71 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.