So, there's no way to get around this? I imagine the rich find a loop hole. Someone find John Q. Public (and Jane) a loop hole ... there has to be one!
How can you qualify to be on medicaid if you have money from a 401k. By the time you get your SSI and any little bit over that throws you over the limit. Right? Thanks.
I think if you end up in a nursing facility they get paid from the money sitting in your 401K along with your SS. SS alone does not cover the monthly cost. Once your 401K has been used up then you qualify for Medicaid because there is no longer enough money for you to afford the nursing facility with SS alone. Plan ahead and try to never end up in a nursing facility.
