✉news BusinessPersonal Finance first seen 6 h ago, last 3 h ago, peak #15
Medicaid Counts Underpriced Car Sale as Assets, Family Bills Difference
Original: She Sold Her Car to Her Grandson for $500 the Year Before the Fall. Medicaid Priced It at $14,000 and Charged the Family the Difference in Nursing Home Days
An elderly woman sold her car to her grandson for $500 the year before entering a nursing home. Medicaid valued the vehicle at about $14,000, treated the gap as an improper asset transfer, and charged the family the difference in nursing home days. The case highlights how strict look-back rules can penalize families for ordinary intra-family sales, sparking debate over whether such penalties are fair to seniors and their relatives.
Why now: Families facing nursing home costs are alarmed by Medicaid's look-back penalty rules on underpriced family asset transfers.
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