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How far Medicaid Asset Trust can come to help a middle class person?

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I am asking this on behalf of my friend Catherine. Her mother's fianncial status doesn't make her eligible for getting Medicaid assistance. Someone had told her to set Medicaid Asset Trust for her. Can she get benefits immediately if she sets that trust? Say if she is admitted to hospital for any reason, will that help? How far medical insurance can cme to use? Can anyone assist what should be done?

- Hi Aren!

You have guessed it right. The Medicaid Asset Protection Trust will be cheaper than anything for her.

The Medicaid Asset Protection Trust is less expensive than medical insurance.
If you have a savings of $5000 to $10,000 it is enough for getting a Medicaid Asset Protection Trust.

I was reading that in some states, you are eligible for Medicaid Asset Protection Trust if you have only $2000 in savings and $50 as your monthly income.

So, Catherine’s mom won’t face any problem if she opens a Medicaid Asset Protection Trust. It will help her to pay off the hospital bills.

Thanks! Keep posting!

Sub: #1 posted on Thu, 03/19/2020 - 23:56

Ryan Miller Ryan Miller

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Yes, it is helpful..However, it is too late. The premium can be high. You can ask your friend to find some grants available for people with no medicare.

Sub: #2 posted on Fri, 03/20/2020 - 04:52

Sanders Patricia Sanders Patricia

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