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Selling My Parents Home - Medicare & Medicaid

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kisbel65
New Contributor

Selling My Parents Home - Medicare & Medicaid

I don't know if anyone on here can help me, but I thought I give it a try. My mother wants to sell her condo in South Florida and she is concerned that she will be penalized by Medicaid. Does anyone have any idea if this is true? Will she loose her Medicaid benefits?

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KoolDev
Regular Contributor

Re: Selling My Parents Home - Medicare & Medicaid

I dont know but I have always heard that the medi/stuff relied on assets and the money you have.  Might want to check the official site and or google and try to find what information you can. 

 

I am sure there are ways to loophole out of it.

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coldnmn
Mega Contributor

Re: Selling My Parents Home - Medicare & Medicaid

I believe the only answer I would trust would be a lawyer.  Once the home is sold the assets won't be protected as the home was for personal habitation. The money would be considered for medicaid and her ability to pay. Like I said ask a lawyer for the best route to go.

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Message 3 of 4
fezwhy
Regular Contributor

Re: Selling My Parents Home - Medicare & Medicaid

I have heard that also. I know someone that transferred the deed into their kids name. Then they later sold it. But a consultation with a lawyer is your best bet. The laws differ by state.
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