Does anuyone know how to get hide equity form Medi-Cal/Medicare?

Question

I have a client who has an 84 year old mother that wons a home that is worth $350K and owes $60K. She wants to sell it but her mother needs a lot of medical attention and is dying. Apparently Medicare or Medi-Cal will delplete all the proceeds fromt he house before they will cover her. She does not want all her equity to go down the drain because this was supposed to be the inheritance that she wanted to pass on to her daughter, which is my client. I will be the agent selling the house. If she had transferred the property 2 years ago, she would not have any problem.Does anyone have any ideas how to beat the system?

Answer 1

She can keep the house and get Medicaid or sell it and use the proceeds to fund her expenses.  The equity she has is already hidden from Medicaid in her house.  It may be subject to recapture laws after her death, but even then your client should be thankful the taxpayers took care of her mother's expenses while she was alive.  Who are you trying to help?

I don't see a reason she should sell.  I think it is more than fair that Medicaid doesn't force her to sell her house first, pay a realtor commission, and deplete the remaining assets before she can qualify for government assistance.  I wouldn't consider someone with $290000 of home equity to be destitute.

Answer 2

As a taxpayer, I don't feel that I should have to pay for her medical bills just so her daughter can get an inheritance.  Why should I want that?  If she has the money to pay for her medical bills, then she should do so.

I will give you the benefit of the doubt and assume that you are looking for any *legal* way to "beat the system", otherwise what you are talking about is called fraud.

Answer 3

You are trying to commit fraud.  What do you think "beat the system" is? It's a euphemism for FRAUD.

The state run health program is for indigent people - not the preservation of big fat inheritances.

If mother has 290,000 in equity- she is doing better than a very very large part of the population. Including myself and my parents.

The purpose of investments is not to provide big fat inheritances - its to take care of you as you get old and need medical care. Any money left over goes to the kids.  If the daughter is lucky - mother will live a long full filling life and by the time she dies - her estate will be very small. But the daughter will be rich with memories.  If the daughter is money grubbing - she can start praying for mother to have a quick - cheap death so she can get the big pay out.

In the mean time, the daughter should get off her f***y and make the wise investments that her mother made so that when she (the daughter) is old she will have the financial resources to take care of herself.

But if your going to commit fraud - don't call it "beating the system" - call it what it is - illegal - law breaking - stealing money from tax payers who do not have 290,000 in equity and struggle to pay their own bills and have no where near 290,000 in savings/equity - fraud.

Answer 4

Sorry, but there is no way to legally beat the system. Medicaid was set up for people with little assets or income and as long as you have either they won't pay. In fact, the Medicaid investigators are very good at what they do.

You should have your client talk with an elder law attorney. They will be able to help if any help is to be found.

Answer 5

Here's what you need to do:  sell the house and use the proceeds to pay her bills and cover her medical expenses. If there's money left after her mother dies, you give it to her. If there's not, then you can inform your client tough titty kitty the milks run dry. Man plans and God laughs.

Then you can find your client's insurance adviser and get them to apologize for not telling your client YEARS AGO to buy long term care insurance for her mother.  The American taxpayers do have the audacity to demand people pay for their own long term care issues.

I admire the fact you have the nads to go online and ask people how to scam medicaid.  As a taxpayer myself, I'd appreciate if you didn't.