Can Medicare deny payment of my elderly (83) mother if we have a CD in her name, my name and a sister's name? We are all adults and listed on the CD as co-owners. Can we withdraw some of the account or all of the CD and not be penalized by Medicare if she needs future medical needs?
Asked on 10/31/12, 2:38 pm
1 Answer from Attorneys
Kenneth Wilk
Rubino Ruman Crosmer & Polen
MEDICAID, not Medicare, has a right to look at the details of the creation of the account, including how long ago it was created, who funded it and other factors. Before you do anything, you should have a consultation with an elder law attorney.
Answered on 11/01/12, 3:16 pm
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