Medicaid risk after lump sum payment

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Latest post 03-10-2009 1:58 PM by carol3. 1 replies.
  • 03-10-2009 12:10 PM

    Medicaid risk after lump sum payment

    My mother is cuurently on Medicaid in Illinois. She received a lump sum payment from social security of $15,000. Social security had not properly calculated her benifits over the last 5 years and repaid her in that lump sum. The question is will she be able to keep all the money without effecting her Medicaid eligibilty? Are there ways to use that money without counting it as an asset? Can she gift it to a family member? Any information would be great.

  • 03-10-2009 1:58 PM In reply to

    Re: Medicaid risk after lump sum payment

    If she is on Medicaid, she is not allowed to do what she wants with this money.

    It will likely have to be reported and spent down for her care. You should discuss with an Elder Law attorney in IL, or else contact Legal Aid.

    http://www.illinoisleg...

    A relative in New York bequeathed $10,000 to his caregiver who was on Medicaid.   It had to be reported and until this money was spent down for her care, she was off Medicaid and as soon as the funds were depleted, Medicaid resumed.

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