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They only have 5000 in bank, but this seems to be too much? How can I find out how to protect what little they have, without spending it all on an advisor, but not have over the $2000 limit I seem to keep running into on applications.

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Having $5,000 vrs $2,000 means little in the grand scheme of things. They can prepay for their burials and that will take care of it.

I would see a Medicaid agent and see what is what in their state.

Good Luck!
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Yes, I agree you should discuss this with a Medicaid Planner for their home state.
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They need to apply for Medicaid.

Medicaid is very State-specific. You need to see a Medicaid planner or elder law attorney in their state.

There is Community Medicaid, which often has no asset limit. Then there is Long Term Care Medicaid, which will pay for NH Care. There are often waiver programs that will pay for home care to avoid NH placement.

You should call your local Area Agency on Aging for Dr direction. Or call the County Social Social Services office to discuss how to proceed.
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You can apply for Medicaid through your state’s website or you can go to your county’s social services website or go directly to their office and apply for Medicaid for your parents. I don’t know what the Medicaid limits are in Massachusetts, but with $5,000 that your parents have can be easily spent down and then they will qualify for Medicaid.

Hoping your parents will get the help they need as I know some people are struggling to make ends meet.

Best wishes.
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You have a marriage involved here. Half of that 5k is Dads. See an elder lawyer on how this can be handled.
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There's no reason to protect 5,000.
See that attorney for advice and that will eat the 5,000 up real quick. Problem will be solved.
HOWEVER exactly what sort of aid are you expecting can be provided in your state?
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Have the PCP assign a " Geriatric Case Manager" to them . And, consult with an " Elder Law Attorney" .
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Contact a lawyer who specializes in elder law or family law. Family trust fund may be helpful in this case.
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Smbix64: Since they possess such a small amount of financials, your mother will have to apply for Medicaid.
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In Ohio if one spouse remains in the home it is exempt, and the spouse can retain $23,000 in personal wealth that is also exempt so they can maintain their home and have money to live on. The spouse applying for Medicaid can only have $2000 of personnel wealth, anything over that has to be spent down (lots of legal ways to do this.)

If the resident spouse dies or moves out of the house it has to be sold, part of the sale price goes to the spouse and the rest reimburses Medicaid.

My numbers are based on 2018 so the totals may have changed. Please make an appointment with your local Medicaid office to get the facts for your state.
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