jbrewer_97
Junior Member
What is the name of your state (only U.S. law)? MT
My mother currently owns a $15,000 whole life insurance policy. It has accrued a cash value of about $1,000. We recently discovered that Medicaid considers this an asset and that there will be a problem when this policy reaches about $1,500-2,000 cash value. We have considered assigning ownership to either myself or my brother. What penalties or trouble with Medicaid do we face if we do this? She also receives SSI. Are there any conflicts with SSI we should be aware of?
My mother currently owns a $15,000 whole life insurance policy. It has accrued a cash value of about $1,000. We recently discovered that Medicaid considers this an asset and that there will be a problem when this policy reaches about $1,500-2,000 cash value. We have considered assigning ownership to either myself or my brother. What penalties or trouble with Medicaid do we face if we do this? She also receives SSI. Are there any conflicts with SSI we should be aware of?