Ask a Question

What happens when my mother has no savings to pay for care?

My mother receives $1310 per month from Social Security, $523 per month from my father's pension, and $1100 per month in Veterans Benefits. She also has $50,000 in the bank. Her current assisted living costs are approximately $5,000 per month. What happens when her savings are depleted and her income is insufficient to pay for her care?
Status: Open    Dec 12, 2016 - 12:29 PM

Medicare/Medicaid, Finance

Do you have the same question? Follow this Question

2 answers

Expert Answers

Dec 15, 2016 - 09:19 AM

Based on your mom's resources, she has a bit less than 2 years before she will exhaust her resources.

You have several options to explore, some of which may work, others, not.

1. You or other family members might be able or willing to supplment her income when she has exhausted her savings.
2. Look for a cheaper living arrangement. A Place for Mom might be a good source to look to for other living arrangements.
3. If you mom would qualify medically for skilled care, you might look at ways to begin the qualification process for Medicaid. I would suggest you discuss this with an elder law attorney.


Comments (1) | New Comment

By doris.arno on Dec 17, 2016 - 07:39 AM | Like (0)  |  Report

Start researching facilities that take Medicaid now. Many places have waiting lists in excess of two years for Medicaid beds. I put my Dad on a waiting list in December 2014. He's up to number 170. He is now on several other waiting lists while applying for Medicaid in Illinois. He lives with me and I have a caregiver that comes in 5-7 hours a day to work on the spend down. I'm just hoping a suitable facility opens up before my stamina gives out and I need to place him in a less than desirable nursing facility. Some, not many, will take in patients as private pay and help with the Medicaid application when the time comes. Give yourself a significant lead time.

Add New Comment

Dec 15, 2016 - 09:28 AM

She will need to seek Medicaid nursing home benefits in her state. I would recommend your family start looking into that process now (as you may be able to maximize what she has left before it is all gone). Medicaid typically pays when a person's resources are exhausted. At that point all of her income (except for a small allowance) would go to nursing home care and Medicaid would cover the balance. Good luck!

Comments (1) | New Comment

By lindadey on Dec 17, 2016 - 04:01 AM | Like (0)  |  Report

my sister is 86 and in a nursing home. I have been drawing down on her investment income to pay the monthly bill of $13,200. At what level of remaining income do I apply for her to receive medicaid? I've heard it can take up to 6months for approval; she has $100,000 remaining in investments.

Add New Comment

Answer this question

Recently Active Members