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View Diary: We might need to update the Grayson logic to "Don't get Hungry" (16 comments)

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  •  it happens a lot (9+ / 0-)

    many seniors can't afford much else.

    except to rely on the kindness of volunteers,
    and and supplement social programs, like Meals on Wheels.

    Even to go into nursing home situation, with Medicaid,
    Seniors still need to first spend their savings on it,
    and sell their homes too, to pay for it.

    There goes the inheritance for the grandkids.

    thanks moose67

    •  The Medicaid Loophole for the Well-Off. (7+ / 0-)

      Officially you can't start medicaid till your assets are under $1500 give or take. Even cremation and burial plot arrangements count toward that total unless you legally make them untransferrable.

      To follow the spirit of the law, yes the senior must spend it all out to total bust, but the letter of the law lets the senior transfer assets to some custodial person, apply for Medicaid immediately on grounds of being broke, then be rejected due to the improper transfer.

      A penalty period of some maybe 5 years is imposed before they can apply again. However if the qualifying facility costs more than the senior's income, all the money spent each month making up the difference, by the person holding the transferred asset, cuts time off the penalty period.

      A senior law lawyer knows the specifics.

      A system this complex obviously is designed so that correct people can take advantage of it and preserve much of granny's life savings, with the expectation that incorrect people won't have the connections and other abilities to game the system.

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Wed May 01, 2013 at 07:05:43 PM PDT

      [ Parent ]

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