Will Medicare take all assets after death in exchange for full payment of care? Where can I find more information on this?
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Last updated: Sep 02, 2011
Q
My mother just informed me of a seminar she attended with my father. The discussion centered around a "little known program" through which one or both of them could qualify for Medicare-funded full coverage nursing home care, in exchange for the assets they currently possess. The scenario she described was that Dad would go into a nursing home, she would stay in the house they own, Dad's expenses would be covered by Medicare. When she dies, all assets (cash, investments, house, everything) would go to Medicare. Is anyone familiar with this program and can you provide a weblink so I can research further?
Thanks.