When they were working, my parents saved $50,000 for any major health expense they might have. Currently they live with me...Read more
The answer to both questions is yes, but the payments need to be structured so that your state Medicaid agency doesn’t treat them as gifts to you causing up to five years of ineligibility for benefits. I strongly recommend that you work with a local elder law attorney to set this up so that it passes muster.
For more on Medicaid's asset transfer rules, click here.
Medicaid Rules, etc