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Will My Dad's CCRC Deposit Be a Countable Asset When My Mom Applies for Medicaid?
Does the law counting Continuing Care Retirement Community (CCRC) deposits as assets for Medicaid purposes (if three requirements are met) apply when only the community spouse lives or lived in the CCRC, and the Medicaid applicant does not currently and never did live in the CCRC? In this case, the community spouse would be making the entrance deposit using proceeds from the sale of his home. His wife, the future Medicaid applicant, is already in a nursing facility and will be applying for Medicaid in a year or two. Would the CCRC deposit be a countable asset for the wife/Medicaid applicant if the deposit can only be used to pay for the care of the community spouse (husband)?
While we can’t be absolutely certain how your state would apply the law, in all likelihood the CCRC deposit would not be counted. The state would probably treat the deposit either like the community spouse’s home or as an inaccessible asset because the community spouse would have to move out to access it. To be absolutely certain, you will need to consult with your state Medicaid agency (if they’ll give you an answer) or a local elder law attorney. To find an attorney near you, go here: http://www.elderlawanswers.com/elder-law-attorneys.
For more about CCRCs, click here.