Peaceful,

SORRY! Now I jumped in on YOUR original posting! LOL!

My sincere apologies, but if I can help someone else, than that was my intent.

Next time I will make a new posting.

DO YOU FORGIVE ME PEACE????

Boo

Boo sounds like you got lots of info. My one suggestion is to talk to the lawyer and financial advisor about that trust. If the trust is for the benefit of your mom, meaning she is able to use that money, Medicare will consider it her asset and want that spent first.

The good news is that if the policy pays that much it won't cost much more per month. Her SS and that extra check will probably cover it.

Hope you get this settled quickly.

11K per year? You mean per month don't you? But anyway it sounds like you are in pretty good shape!

Id be EXTATIC if I could find an NH for that price. I think you goofed on that one!

Boo...all is fine with anything you bring to my threads. I am actually learning a lot. You are probably in a place I may be in some day.
My Mom had falls but is steady today. We all know how that goes. Day to day...
Not sure if the topic is still avail since I did not look. Check about a month or two back...Tigg may recall. I was looking into my Moms assets and the Living Trust. Learning how the medicare "Look Back" worked.

I found this about the trust. If it were "irrevocable" (meaning Mom has NO control of assets and a Trustee over sees) then medicare did not count this "assets / income."

Many people think "trust fund" which can be how money is set aside for heirs. Typically Trusts avoid probate for heirs. Unless someone contests. Also, Trusts remain private unless contested. You and your brother need to be talking about some of this. I have two sibs gunning for me and I know it. They have been mad from the get-go
about what they were entitles to. Have been reading a lot to protect myself. And trying to get my Mom to allow the attorney to advise. She wont spend the money and I am not committing my cash for this.

Keep us advised on your situation. Here or your post will be lookin for you. Sorry it is so stressful

P

PS. FYI....I can imagine a couple of you may be thinking.."get an attorney P " You are correct. I do need this. Trying to talk Mom into it..hopefully she will give in soon. If I had not screwed up with the friggin'
ice cream...LOL

Smiles,
P

OH HECK YEAH I GOOFED ON THE 11, 000 per year!! It's per month, and OUTRAGEOUS!!!!!!!!!

Boo

Hi ,

It is an IRREVOCABLE Living trust. Mom is a smart cookie, and always tried to plan ahead for this.

The only part in her planning, that I find out now, is her long term health insurance, It will pay 1.5 years, $132 per day for home care, and $268 per day for Long Term Nursing Care, or Assisted Living care.

Here, a woman that is financially savvy, and has a great financial advisor...has a policy that will only cover 1.5 years at these rates.

That won't cover her past 1.5 years...

The only solution I see, is for her to apply for Medicaid, and see if she fits the guidelines for the Medicaid Excess Income Spenddown.

That will be based on the difference between the cap on how much you can make for one person, to qualify for Medicaid, and how much money she makes, that is NOT covered by her irrevocable living trust, and that amount she can use to pay uncovered medical bills, and any charges for her care...and she would submit those in place of premium due to Medicaid.

IF she had no bills due, she would pay the dollar amount of the difference.

Do you guys get this? I do, cause I have long term health care, provided to me for the same guidelines.

For example...I make a low income, but too much to qualify for Medicaid. My Medicaid guideline here in Syracuse, NY, is $829 per month. I make $932, on SS Disability per month.

SO, I pay $103.00 per month to my Managed Medicaid provider. *They in turn pay Medicaid, but that is who I send my payments to).

So, that is the only way I think, that Mom's long term nursing care would be covered in full.

Yes, the LTC would pay a portion of it. I'm wondering now, if she opted NOT to use the LTC now, and waited..could she use this Medicaid Spending program and save the LTC coverage ?

I don't know, grasping at straws now...

I think what we will do is set it up, so she gets a Medicaid application process going TOMORROW....and then contact the LTC insurance company, and the pick out a nursing home asap.

They are discharging her this Friday, so my time is short to do all of this.

Thank you all for being so sweet to me, and for supporting me as my DS Family, in this trying time.

I just want Mom to be happy, and be safe, and taken care of, since I cannot do it myself.

Hugs,

Boo

oh, by the way,

I did call A PLACE FOR MOM...and the rep I spoke with said I have the info that he would give me, for local nursing homes or assisted living homes for me to look into.

BUT, he also sent the PDF file, that has about 15 pages of helpful forms, and lists you can use to make the process a bit more neat and easy to work with.

So, I am going to print off the forms and things to do list, that are in there, and use them in my work this week to set this stuff up for Mom.

Boo

OH and to whoever posted about Home Health care being cheaper ( ididn't lookback to see who posted that.).


ITS NOT!!!! It is more...believe it or not, that is...if you need 24 hour care.

The long term health ins. policy does pay $132 per day on my Mom's policy for 1.5 yrs, but the home health care agencies, charge about $25.00 per hour, times 24 hours as day, DO THE MATH, it's outrageous!!

So, she doesn't fit the guideline with 1 Assisted living place, so I will call every one I can, and if her Fall risk is not acceptable for her to live there, I have spoken with Mom, and told her we may have to put her in a long term nursing home, and if her falls are less, or she's not falling, we can also re-apply to get her in an assisted living place.

I'm thinking though, as she gets older, her balance will get worse, so I told her this, cause I want to be up front with her, so she doesn't get more depressed or get her hopes up, that she would probably end up staying in the long term nursing care ..but if I have anything to say about it, which I DO...It's going to be the best I can have, for whatever insurance allows her!!!!

Boo

Boo, you really are getting this stuff down and I am learning a lot by your example. Very cool that you list what you are going through and share with all. Thank you.

Yes this DS group is amazing support. And the information I have gathered is priceless. Especially at time when things happen and it all becomes overwhelming for me.

I know my Mom thinks she is all set. So much can go wrong in my situation. I have some ability to handle the physical challenge she will require. Also, I am not completely alone so there is some relief there. We spend as little money as possible around here "just in case." Although, I am trying to talk Mom into going to NY this Fall. Leaf color for one but to visit her mountains (Adirondack) and see some relatives.

I hope your calls go well this week. My Mom has a term called B-tchig Monday. It her favorite day to take on the Cable company in particular. Every month she makes them adjust it...and they do...5 or 10 bucks. :)

Hugs
P

Boo be careful of that trust. Irrevocable is not the important part. If your mom is the beneficiary I believe Medicare will require that money to be used before they will pay anything. The terminology in trusts can get confusing.

Revocable/irrevocable is whether the person who puts the assets into the trust can take them back out.

Beneficiary is the person who gets to use the income and or assets of the trust.

Inheritor gets the assets when the beneficiary is dead or other terms of the trust are met.

My mom has an irrevocable trust that is for her benefit during her lifetime. When she dies the assets are inherited by the three children. This is the most common type of trust and was done when there were huge inheritance taxes. By doing a trust you could divide up assets between spouses and save on taxes.

I'd also be surprised if Medicare allowed you to not use the insurance first. It would also make sense to use this benefit first because none of us ever know how long our loved ones will live.

Good luck with your search for a great nursing home and the best way to pay for it. And please let us know what you find out.

Mom is not the bene, I think my brother and I are.

Boo

I'm really not sure, but I know that the living trust is owned by the trustees.

Regarding the inheritance, I will have to ask mom, but I am pretty sure we (my brother and I ), will inherit the money in the living trust when mMom passes away..

Tks,

Boo

I think what came along in my reading a month ago about a Trust is if
irrevocable , the Medicare look back rules apply differently than if revocable. That is, there were a few exceptions for irrevocable but it did not apply to me so stopped reading that 1000 words.

P