Do I Really Have to Spend All My Money to Qualify for Medicaid?
Troy C. KieferTroy C. KieferMany seniors worry that they must give away or spend all of their money before Medicaid will help pay for nursing home care. This is a common belief, but it is not always true.
Medicaid does have financial limits, but it also protects certain types of property. In many cases, a person’s home, one vehicle, personal belongings, and prepaid funeral plans do not count against eligibility. For married couples, the law also includes rules designed to protect the spouse who remains at home.
Because Medicaid rules are complicated, people often hear advice from friends, family members, or the internet that is incomplete or incorrect. Acting on this information can lead to costly mistakes.
Problems often arise when people rely on bad or incomplete information. Families sometimes give money away or transfer property too quickly, believing they have no other choice. These actions can delay Medicaid eligibility and create serious financial problems. Medicaid planning is not about losing everything—it is about knowing which steps help and which ones can cause harm.
Getting reliable guidance before making decisions can help protect both access to care and long-term financial security.
