Father has enough to pay for his funeral. Can he pre-pay, and still get Medicaid?
If my father has saved enough money for his funeral and now needs to go to a nursing home can he prepay the funeral and apply for Medicaid?
Expert Answer
Yes, your father can prepay his funeral and apply for Medicaid. Medicaid allows this. There are two options for doing this. One is to go the funeral home where you want to make final arrangements and prepay the funeral. The other option can be used if you do not know where you want to make final arrangements. This option is a Funeral Expense Trust. You can fund it with cash or roll over a life insurance policy. At the time of the insured's death, the money is used to pay all final expenses. Whichever option you choose, make sure that the contract is "irrevocable". That is the only way that Medicaid will accept it.