Nursing Homes Can’t Take Stimulus Check, Even if You’re on Medicaid

Posted On Jun 15, 2020 By admin With Comments Off

People who live in nursing homes or assisted living facilities get to keep their coronavirus stimulus checks, even if they’re on Medicaid.

Here’s all of our coverage of the coronavirus outbreak, which we will be updating every day.

But some equipment are telling citizens on Medicaid that they have to turn over their stimulus coin, according to the Federal Trade Commission.

Here’s why it’s a complete lie: The stimulus fees are duty approvals. Tax recognitions don’t affect eligibility for Medicaid and other benefit programs, and they aren’t counted as available resources that you have to use to pay for those benefits.

Medicaid sheathes about 62% of rest home occupants, according to the Kaiser Family Foundation. And with most nursing facilities still closed off to the public nationwide due to COVID-1 9, it could be tougher to monitor your loved one’s finances if they live in a nursing home.

4 Things Medicaid Recipients Need to Know About Their Stimulus Payments

If you’re receiving Medicaid, here are a few indispensables to know about your stimulus check.

The fund is yours to expend nonetheless you crave. There are no restrictions on how you can spend the money, regardless of whether you live on your own or in a nurse equipment. The fees do not count as income.

The remittances don’t counting as income for tax purposes, and they too don’t count as income for Medicaid principles. That wants the stimulus remittance doesn’t affect a nursing home resident’s monthly fee, often referred to as the “patient pay amount” or “share of cost.” Here’s an example from the National Center on Law and Elder Rights:

“An unmarried tenant receives $1,050 monthly Social Security benefit and has $1,800 in savings. Each month she pays the nurse facility $1,000 from her income, and preserves $50 for personal needs. After receiving the $1,200 stimulus payment in May 2020, her fee obligation to the nursing facility does not change. She continues to pay $1,000 monthly.”

You have a year to spend down the money. Medicaid recipients generally can’t have more than $ 2,000 in their bank account. Additional money is considered a resource that you can contribute toward your upkeep. But the extra $1,200 won’t count against you for a full time.

Per the National Center on Law and Elder Rights: If you have $ 1,800 in a savings account and you get a stimulus check in May 2020 that improves your savings to $3,000, “youve had” until May 2021 to spend your savings back below $2,000.

You’ll receive the money in the same way you receive other benefits. Your stimulus check will be managed automatically and to be presented to you the same way you receive Social security systems, SSI or other benefits. The vast majority of Social Security recipients receive their pays via direct lodge, so they’ll get their stimulus checks via direct deposit as well.

The first stimulus fees to Social Security recipients were impelled the week of April 29, while pays for SSI recipients began on May 13.

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What to Do if a Nursing Facility Is Claiming a Stimulus Payment

You should contact both the FTC and your state attorney general office if a harbour facility has claimed a stimulus be taken to ensure that belongs to you or a loved one.

But if you’re worried that this could happen, testify the equipment organization the FTC release and information materials joined, and give them know that you’re aware that they can’t make stimulus fees. This is a situation where showing that you know your claims will pay off.

Robin Hartill is a showed financial planner and a senior editor at The Penny Hoarder. She writes the Dear Penny personal finance opinion column. Send your knotty coin the issues to be DearPenny @thepennyhoarder. com.

This was originally published on The Penny Hoarder, which assistances millions of books worldwide deserve and save money by sharing distinct job opportunities, personal narratives, freebies and more. The Inc. 5000 graded The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.