Justin, My husband is moving into a nursing home, and I’m terrified I’ll lose everything paying for his care. Will Medicaid leave me with nothing? — Margaret
Margaret, That’s such a heartbreaking fear, and thankfully, it’s not how the system works. Medicaid has special rules to protect the healthy spouse, called the “community spouse” in the Medicaid rules.
In Arkansas, the community spouse can keep the home, one vehicle, personal belongings, and a portion of the couple’s savings—often tens or even hundreds of thousands of dollars, depending on the situation.
There are also planning strategies to protect additional savings beyond the default allowances. The key is getting advice early to avoid unnecessary spend-downs or transfer penalties. We can even help protect some of the income of the spouse moving to the nursing home in certain situations.We help families every day qualify for Medicaid while keeping the healthy spouse financially secure.
If you’re worried about losing everything because your husband’s health situation, visit ElrodFirm.com to learn more or schedule a no-charge strategy session. You may have more options than you think.