Is there federal assistance for senior care? Are some subsidized? My grandmother is 'gifting' most of her

savings beforehand. Will that help get a reduced rate or a subsidy?

Medicaid might help, but they do require a person to qualify financially (and they inquire about gifts). I wouldn't trust any government program to take care of my grandmOther…I'd look into an insurance policy.

There are a number of policies that have premium refund riders so the policy is either used or the money is passed on to the family.

May 16, 2009 | Filed Under Senior Homecare Services | Senior Day Care Assistance 

Comments

2 Responses to “Is there federal assistance for senior care? Are some subsidized? My grandmother is 'gifting' most of her”

  1. efflandt on May 16th, 2009 9:40 pm

    Giving her assets away to get public assistance is not allowed and may make her ineligible. There is a lookback period of a number of years. She is required to file a gift tax return if she gives more than $12,000/yr to any individual. Why should "we" pay for her senior care if she has (or had) the money to pay her own way?
    References :

  2. derek on May 16th, 2009 9:51 pm

    Medicaid might help, but they do require a person to qualify financially (and they inquire about gifts). I wouldn't trust any government program to take care of my grandmother…I'd look into an insurance policy.

    There are a number of policies that have premium refund riders so the policy is either used or the money is passed on to the family.
    References :

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