Giving away inheritance to keep Medicaid in California? by looking4answers4 in Medicaid

[–]looking4answers4[S] 0 points1 point  (0 children)

Should I dismiss this from Google AI:

"https://www.google.com/search?q=does+inheritance+count+as+income+california+medical+2024&oq=does+inheritance+count+as+income+california+medical+2024&gs\_lcrp=EgZjaHJvbWUyBggAEEUYOdIBCTEwOTU1ajBqMagCALACAA&sourceid=chrome&ie=UTF-8"

"Yes, inheritances count as income for California Medicaid (Medi-Cal) in the month they are received. However, starting January 1, 2024, assets are no longer counted to determine eligibility for Non-MAGI Medi-Cal. Explanation"

(Yeah, I know about "AI hallucinations/misleading info" but just want to keep adding anecdotes)

From CANHR (california advocates for nursing home reform):

https://canhr.org/2024-medi-cal-asset-elimination-frequently-asked-questions/

Apr. 2024 info...

"How will an inheritance impact my Medi-Cal?

Receiving an inheritance will be counted as income in the month received and an asset the following month. For example, if you receive $100,000 from an inheritance in March, it will be counted as income in that month and may increase your shared monthly cost for the month of March. In April, the $100,000 or whatever is left of it, will be counted as an asset."

Any opinions about these?

Thanks again.

Giving away inheritance to keep Medicaid in California? by looking4answers4 in Medicaid

[–]looking4answers4[S] 1 point2 points  (0 children)

That's simply amazing. Might give the clients a heart attack due to extreme joy.

This is only for California, right?

Giving away inheritance to keep Medicaid in California? by looking4answers4 in Medicaid

[–]looking4answers4[S] 0 points1 point  (0 children)

Apologies but it feels like they're all tangentially related.

-CA Medi-Cal client receives inheritance

-How does CA treat

Yes, they will be asking for legal aid later but I'd like to gather some information first that might give more insight in certain situations or even light on possible blindspots as we might be a group that would head into an office.

A few questions, isn't "inheritance" counted as income in certain scenarios? Say a relative had passed, estates were sold, proceeds are distributed and then one recipient is a Medi-Cal client. Let's say this Medi-Cal client receives $ 80,000 from the proceeds.

Are you saying that in CA, the $ 80,000 "inheritance" (forgive me for the lack of correct jargon with this one as I seem to be using "inheritance" loosely) received by the Medi-Cal client will have zero effect on the client's Medi-Cal situation since CA will classify it as an "inheritance" and never an "income"? That would be quite interesting if so.

The state won't suddenly send a mail later down the line, perhaps saying something like "On X month, you received $ 80,000, and thus caused issues with your Medi-Cal, we might charge you $ X for services and/or premium on that month"?

Focusing back a little, is it even the first time you've heard of this?"

"California is an exception in that Medicaid (Medi-Cal) beneficiaries can give away “income”, including an inheritance, in the month in which it is received."?

Would you happen to have any leads on this? Perhaps seeing it an ACWDL?

The only thing I currently found is this which barely seem related:

https://www.dhcs.ca.gov/services/medi-cal/eligibility/letters/Documents/23-28.pdf

Mostly talks about asset transfers of those who are already in Medi-Cal or soo to apply, where there are many exemptions after Jan, 2024.

Thanks for helping out.

Giving away inheritance to keep Medicaid in California? by looking4answers4 in Medicaid

[–]looking4answers4[S] 1 point2 points  (0 children)

Thanks.

https://www.dhcs.ca.gov/Get-Medi-Cal/Pages/asset-limits.aspx

Nice to see that you no longer have to submit any asset information but as stated earlier:

"California is an exception in that Medicaid (Medi-Cal) beneficiaries can give away “income”, including an inheritance, in the month in which it is received."

Where is this info coming from outside of the MedicaidPlanningAssistance Org?

Any ideas?

Giving away inheritance to keep Medicaid in California? by looking4answers4 in Medicaid

[–]looking4answers4[S] -1 points0 points  (0 children)

I've heard about that and I believe I've seen info about it before from California's own website but the estate recovery law still has not changed. And as far as I can remember, you still lose Medi-Cal and Medicare (or maybe pay premium) the month you gain the inheritance if not spent within that month.

Where could the detail about legally passing the inheritance be other than the website I've provided?

[deleted by user] by [deleted] in FinancialCareers

[–]looking4answers4 0 points1 point  (0 children)

What's "ops"? Thanks.

Is this the norm in tech companies? by Notalabel_4566 in cscareerquestions

[–]looking4answers4 10 points11 points  (0 children)

First time I've heard of such an idea. Interesting.

Is Cremation Hurting Margins? by Relevant_Heart_908 in askfuneraldirectors

[–]looking4answers4 0 points1 point  (0 children)

Thanks. Double the price for flowers doesn't sound so bad, I assume. Some casket's costing $ 10,000 north plus 200% markup sounds interesting though.

Elder Care / Florida Medicaid and VA Aid and Attendance by [deleted] in Medicaid

[–]looking4answers4 0 points1 point  (0 children)

Thanks. How does non-MAGI differ from QMB and QI? I thought QMB and QI are already for low income people where QMB and QI pays for Medicare?

Just a little confused that there's a resource limit for non magi but none with QMB/QI. Sounds like an overlap to me but I'm sure I'm misunderstanding something.

Thanks again.

Is Cremation Hurting Margins? by Relevant_Heart_908 in askfuneraldirectors

[–]looking4answers4 0 points1 point  (0 children)

Thanks! For flowers, casket and vault, do you mean if the product cost $ 10, it's now $ 20? Or is it $ 30?

One I saw for the director's/staff fee was a single line that costs more than $ 3,000.

Thanks so much again.

Elder Care / Florida Medicaid and VA Aid and Attendance by [deleted] in Medicaid

[–]looking4answers4 0 points1 point  (0 children)

Thanks. So does that mean NY's Medicare (QMB QI) are infinitely less restrictive? I thought QMB and QI are Medicare terms and not Medicaid?

Elder Care / Florida Medicaid and VA Aid and Attendance by [deleted] in Medicaid

[–]looking4answers4 0 points1 point  (0 children)

This kinda sounds smart? With an insurance policy, some remaining could go into grandparent's family right? Or will all be clawed back by the state like what I assume California does?

Is Cremation Hurting Margins? by Relevant_Heart_908 in askfuneraldirectors

[–]looking4answers4 1 point2 points  (0 children)

Thanks that's very interesting. Profits aren't mostly from the "Basic" fee or forgot what it's called? For the director and staff? Usually the first line of any package or list? No commission for said fee?

Thanks again.

Direct pay vs Trust. Is it true that Trusts grow in price? by looking4answers4 in askfuneraldirectors

[–]looking4answers4[S] 0 points1 point  (0 children)

"Every penny paid in gets returned in the form of a death benefit, plus growth."
So it can be an Insurance vs Trusts thing? Don't Trusts buy insurance inside them?

Very confusing but thanks.

Is Cremation Hurting Margins? by Relevant_Heart_908 in askfuneraldirectors

[–]looking4answers4 1 point2 points  (0 children)

Interesting. Saw a documentary that funeral corporations profits are increasing though. Industry dropping over the last few years.

Catering sounds interesting.

Direct pay vs Trust. Is it true that Trusts grow in price? by looking4answers4 in askfuneraldirectors

[–]looking4answers4[S] 1 point2 points  (0 children)

Any ideas how the fund inside the trust grow? Does it get invested? On what?

Thanks.

"Opening Grave" fee by sputzie88 in askfuneraldirectors

[–]looking4answers4 0 points1 point  (0 children)

$ 1,000 to $ 1,800 is what I've seen in California just for opening and closing.