How does a pending home sale affect Medicaid benefits?
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How does a pending home sale affect Medicaid benefits?
Grandma needs to be placed in nursing home. She owns a home in another state. It is on the market for sale, however, we do not have the funds to pay for the nursing home before the home is sold (could take 1 week to 1 year). Does Medicaid take into consideration that the home she owns is on the market for sale and pay the nursing home while grams in there or do we need to pay out of pocket ($6,000/month) before Medicaid will kick in and start paying?
Asked on August 22, 2012 under Insurance Law, Utah
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under the "Medicaid" program all assets of your grandmother are taken into account with respect to what benefits she may be entitled to or not entitled to. Typically the program looks at liquid assets for payment of current expenses and whether an asset which is not readily liquid such as a home is for sale to derive additional funds for your grandmother's care. I suggest that you consult further with the director of the nursing home as to further questions you may have as to your grandmother' assets and payment for her care.
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