Are retirement plans counted towards the $2,000 Medicaid limit? I have been told that my mom does not qualify for Medicaid because of her 401(k) plan. I’ve also been told that she can keep that fund and still get Medicaid. What do I do? I almost cashed her plan out last week. The rules about…Read More
For many individuals, retirement savings are their largest asset. And when facing nursing home care, the rules about Medicaid and IRAs can be very confusing. So, how do IRAs (and pensions, 401(k)s, 403(b)s, etc.) affect Medicaid eligibility? Will a large IRA disqualify a nursing home resident for Medicaid? For those who are receiving payments from…Read More
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