Feb
27
2013
By silker
My 94 yr.old momma has been on SSI and medicaid since she was 62. She recently received a settlement from a car accident, in which her back was broken. She was in the hospital for a month, and then had home care for awhile. The percentage she had to pay back to medicare and medicaid was deducted, and paid, from her settlement. We went right away to the Social Security office and reported this. They said her SSI and medicaid would be stopped, and said she would receive a letter from medicaid. She hasn't received this letter, as yet. Do you know how long it takes medicaid to respond? She wants to make monetary gifts to her children. Is this allowed? Thank you.
Gifting resources and Medicaid and SSI
If the settlement left your mother with more than $2,000 in cash ("resources"), she may become ineligible for SSI.
Giving away a resource or transferring it for less than it is worth, could make you ineligible for SSI for up to 36 months. The number of months you could be ineligible depends on the value of the resource transferred and the compensation, if any, received.
Medicaid may not pay for certain health care costs if you or your spouse gives away a resource or sell it for less than it is worth. If you have any questions about how transferring a resource affects Medicaid coverage, please contact the welfare or social services agency that handles Medicaid in your area.
http://www.ssa.gov/ssi/spotlights/spot-transfer-resources.htm
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/357
https://secure.ssa.gov/poms.nsf/lnx/0501150001