If my father passed away and had a TCA account regarding an insurance policy with his former employer, since I’m my mother’s POA is there any way that this TCA account can be put in my name?

This is a Total Control Account with a life insurance company. The problem is that my mother receives Medicaid benefits and the proceeds of this policy would disqualify her for these benefits and that can’t happen because she needs 24/7 care at home by caregivers. I understand that it is like a checking account and that she can write checks on it. If not, we are just going to not be able to process this life insurance policy because we cannot take the chance of her losing her Medicaid benefits.

Asked on March 2, 2013 under Insurance Law, Pennsylvania

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

I am so sorry for your loss.  Please go and speak with an attorney that deals with medicaid issues regularly to see what you can do or better yet the plan that holds the benefit (is it MetLIfe?) as they can provide support here. It is my understanding that you can not just not claim the life insurance benefit.  That would be like trying to renounce the inheritance and the law - Medicaid Law - does not care: they count the benefit anyway.  So please, go and see what can be done.  You can not just switch beneficiaries. Good luck.


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