Long term care eligibility (IN)
My grandma has been in a skilled nursing facility for a few weeks and will eventually need long term care. She has dementia and can’t walk. Grandpa is still alive and well, living at home.
Hoping to confirm a few things because the lawyer we’re working with isn’t much help. From what I’m reading when it comes to asset eligibility for Medicaid, the house, personal belongings, and a car are exempt. Also, assets can be transferred to grandpa without penalty. Do I understand this correctly? Are checking and savings accounts considered assets?
Is there a max monthly income they look at for eligibility? If so, does the Minimum Monthly Maintenance Needs Allowance get taken into account?
What would throw a red flag when looking at the previous 5 years of financials for grandma?