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I now have more savings, how will it effect me?

 
 
Reply Thu 17 Dec, 2020 01:28 pm
I just talked to my Medicaid eligibility worker. I had $198. I now have $5000 dollars in the bank. I am wondering what will happen with my money/billing because of this. I receive QMB and an approximate spend down of $3600.

Thank you, this stuff is complicated.

Josheirm
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Type: Question • Score: 1 • Views: 330 • Replies: 5
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chai2
 
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Reply Thu 17 Dec, 2020 01:47 pm
@Josheirm,
What did the eligibility worker say what would happen?
Josheirm
 
  0  
Reply Thu 17 Dec, 2020 03:49 pm
@chai2,
She said I wouldn't have a spend down and I don't understand what she means.
chai2
 
  1  
Reply Thu 17 Dec, 2020 06:24 pm
@Josheirm,
Then ask her what she meant.
PUNKEY
 
  0  
Reply Thu 17 Dec, 2020 06:32 pm
@Josheirm,
How did you happen to save up all that money? The government requires you to be absolutely down and out before you get Medicaid benefits.

You have too much countable assets to be eligible for Medicaid now. You can get rid of some of that money by fixing up your home, buying a new home, repairing or buying an automobile, or some other ways that you can find out about just by googling “ what is a Medicaid spend down.”

(After this, don’t use a bank account for your extra cash. )

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Josheirm
 
  0  
Reply Fri 18 Dec, 2020 08:30 am
@chai2,
Well I did, she just keeps explaining and not making sense. I thought maybe someone would know what is going on. How would I lose my spend down from having more money, wouldn't this be a good thing to get rid of the spend own? (I wouldn't have to put bills towards it before I get Medicaid insurance to start) What in the world does she mean? Also, she said I can have up to $7900 on Medicaid.
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