Does receiving an inheritance jeopardize my Medicaid benefits? by Janell M. Sprinkle
Most likely, yes. In Indiana, a single individual must have less than $2,000 in assets to receive Medicaid benefits. If your inheritance, combined with existing assets, causes your assets to exceed this limit, Medicaid benefits will stop. To reestablish benefits, you must reapply for Medicaid eligibility once the assets are reduced. Please note that waiving the inheritance, or gifting it to friends or family, will trigger penalties and will also result in a loss of benefits. There are ways to avoid this loss. One way is to spend the inheritance on goods or services prior to the end of the […]