Legal Question in Social Security Law in Ohio

Re: protecting savings to be able to use medicaid if not 65 yet & no insurance

I don't know how much your savings are, but at this point, you are left with very few choices. If you transfer your savings to a trust within 5 years of your application for medicaid, the transfers are still included in your assets. Maybe someone else has an idea, but the only way I know if for your wife to "spend down" her 1/2 community share of the savings. This can be used to buy a new or better car, new appliances, etc. and would not affect your 1/2 community share. However, you may have the same problem when you need medicaid. So, I would advise you to consider a trust now before it's too late to protect your savings.

Re: protecting savings to be able to use medicaid if not 65 yet & no insurance

I am assuming that the 62 year old wife is disabled and has applied for Supplemental Security Income benefits, since Medicaid is not available to a 62 year old person who is not disabled. The reason for the limit on assets is that SSI is a form of welfare which provides rather minimal support for disabled children and adults who have not paid in to Social Security enough to quality for Social Security disability benefits. The most valuable part of SSI benefits is often the Medicaid coverage. But you really can't preserve your assets, unless through pre-payment of certain kinds of expenses, and be eligible. If she owns a home which is mortgaged, she could pay down the mortgage with her savings. She could pre-pay for funeral expenses and a burial plot. She could acquire a car or replace an old one, if the car is needed for trips to the doctor. But she cannot hold on to the savings in a bank or investment account and qualify for a welfare benefit. She should discuss this with a lawyer who practices Social Security disability law, preferably one who is a member of the National Association of Social Security Claimants' Representatives and who therefore has access to the most reliable information.