Medicaid and Inheritance

G

Greta

Guest
Jurisdiction
Florida
I am a disabled person on SSD and SSDI in Florida. My Dad recently died and left me some money. I am the beneficiary of a life insurance policy, a CD, and some investments. I have not claimed any of the money yet. However, Medicaid just sent me an eligibility review to complete by May 31st. Do I have to report these new assets even if I haven't claimed any of them yet and am only listed as beneficiary. Also, going forward, in order to protect these new assets from Medicaid, I would like to draw up a lump sum personal caregiver contract, but I cannot find an example/template of one on the web.
 
My Dad recently died

Condolences.

I am the beneficiary of a life insurance policy, a CD, and some investments. I have not claimed any of the money yet. However, Medicaid just sent me an eligibility review to complete by May 31st. Do I have to report these new assets even if I haven't claimed any of them yet and am only listed as beneficiary.

Yes, you have to report the assets because the money was yours as of his date of death even though you haven't got the money in hand. Failing to report is fraud.

Also, going forward, in order to protect these new assets from Medicaid, I would like to draw up a lump sum personal caregiver contract, but I cannot find an example/template of one on the web.

If you have a bona fide caregiver that you compensate monetarily, the compensation will have to be pay as you go (daily, weekly, monthly) and bear a reasonable relationship to the services performed.

Anything else is fraud, too, and you're going to get caught and penalized for it. You're not Medicare's first rodeo. You don't get to hide your assets and get a free ride off the taxpayer's money.

The following website gives you a comprehensive explanation of the elements of a caregiver contract. You should be able to draft one from that information:

Personal Care Agreements | Family Caregiver Alliance
 
I am a disabled person on SSD and SSDI in Florida. My Dad recently died and left me some money. I am the beneficiary of a life insurance policy, a CD, and some investments. I have not claimed any of the money yet. However, Medicaid just sent me an eligibility review to complete by May 31st. Do I have to report these new assets even if I haven't claimed any of them yet and am only listed as beneficiary. Also, going forward, in order to protect these new assets from Medicaid, I would like to draw up a lump sum personal caregiver contract, but I cannot find an example/template of one on the web.

How much are these assets allegedly worth?

Were these assets to be conveyed to you by a will, in a trust, or by the laws of intestacy in Florida?
 
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