2 Years Private Pay and Then Medicaid? Not so fast
In this week’s post I will tell you about a call we received recently, similar to ones we have had many times over the years – although not in some time. Son called stating that Mom was close to completing a 2 year private pay requirement at a local assisted living facility. He said he needed help applying for Medicaid.
As I have written about the past few weeks, you never want to wait until you are almost completely spent down to prepare for Medicaid because it leaves no margin for error. I thought that was going to be concern here.
But then he told me that his mom still had assets. She had several real estate properties to her name totaling well in excess of $1.5 million. What she didn’t have much more of was liquid assets to pay for the cost of care.
So why did he think she could qualify for Medicaid? I’ll tell you more next week.