Can pre-planning make it easier for my loved one to receive Medicaid benefits for nursing home care?
Yes. By purchasing a pre-arranged funeral plan you remove cash from your loved one’s estate and thereby “spend down” their assets. The government allows funds to be spent on a pre-arranged funeral plan provided a document is signed saying the beneficiary (the one about to enter the nursing home) can not get their money back later by “cashing it in”.
Related Questions
- My loved one needs nursing home care and needs to qualify for Medicaid. Is there any way he/she can transfer assets to other family members without affecting his/her Medicaid eligibility?
- Can pre-planning make it easier for my loved one to receive Medicaid benefits for nursing home care?
- What DOES Medicaid pay for, concerning coordination of benefits?
