What can a woman living in a nursing home in the state of New York do with her pension income so that she is not in a constant state of qualifying for financial aid / not qualifying for financial aid? I'm asking for a friend so I don't really have all the facts at hand but the basic question is that a woman in the state of New York is living in a nursing home but receives a pension so that when the pension earnings accumulate to 14, 000 the woman's family is notified and they have to take her off the financial aid that is paying her nursing home bills. (I think it is Medicaid?)
Apparently the problem could be solved if she just spent the money but she doesn't need anything.
We understand that she could own a home and a car and still get Medicaid but that seems too complicated right now. Can you even pay a mortgage with your pension and still qualify for Medicaid?
We also understand she can not "gift" any of the pension money to her grandkids. But could she open a college savings fund with the pension money?
The reason I am asking is because the family has to do tons of paperwork every year when this happens and they are worn out. They have to do all the re-applying to Medicaid every year because of this.
What do other people do in this situation? The staff at the nursing home have hinted at some solutions but I think they can't out-right tell the family what to do because it would be financial or legal advice. Not sure.
Apparently the problem could be solved if she just spent the money but she doesn't need anything.
We understand that she could own a home and a car and still get Medicaid but that seems too complicated right now. Can you even pay a mortgage with your pension and still qualify for Medicaid?
We also understand she can not "gift" any of the pension money to her grandkids. But could she open a college savings fund with the pension money?
The reason I am asking is because the family has to do tons of paperwork every year when this happens and they are worn out. They have to do all the re-applying to Medicaid every year because of this.
What do other people do in this situation? The staff at the nursing home have hinted at some solutions but I think they can't out-right tell the family what to do because it would be financial or legal advice. Not sure.