28 Dec 2025 1:15 pm
The primary subject is inheritance planning, not Medicaid raiding your assets to pay for EoL care.Fuelman » 28 Dec 2025, 10:58 am » wrote: ↑ I don't know about laughing at this subject but it's important to be informed.
If you are involved with taking care of elderly parents you should learn everything about Medicaid possible.
As far as assets go, most of that will wash out in the process of applying for Medicaid. They do a 5 year look back at finances and property transfers to qualify. Luckily, we had been DPOA's for many years and I had detailed receipts for everything. Trust me, they have access to everything you have done financially with your name and SS number. They found two cemetery plots in California we were not aware of valued at over $30k.
I have a friend who went and got his parents 2 years ago from Texas and moved them to Colorado. They are 88 and 91, ready to go into a facility. They have the last two years of finances but the 3 years prior is a mystery and will be difficult to get all the information needed.
The number may have changed but we had to spend down assets to $2k total before applying. We watched $600k go to assisted living facilities and long term care before being placed on Medicaid. In the end after being approached by the Oregon Medicaid Recovery team, I gladly sent them the last $800 or so left in their checking account to the penny. Never heard from them again. There was a period during COVID-19 where they were not withholding the right amount and we ended up with $12k in their checking account when the limit to continue on Medicaid is $2k. We contacted MAR to inform them and they gladly took a $10k check to continue coverage verses being kick off.
It's better to plan ahead if you will be involved with your parents in the end. Any property or financial transfers need to happen a minimum of 5 years prior to being placed on Medicaid.
Our scenario didn't include any family leeches, our only goal was that the parents were cared for and we could go about our lives. That whole episode lasted for a decade plus.
It's worth while to spend the $1500 and get a documented will, Durable Power Of Attorney for health and finances is a must!
But good to know...apparently it would've been easier to pay cash for gold and silver bars and to conveniently "lose" them than to send the GUBMINT several cheques