Jem, 65, entered a nursing home; her assets were gone, and the only insurance she had was Medicaid and Medicare. Seven years before, she had bought a $20,000 irrevocable pre-need contract for her funeral. This was an asset that the nursing home accountant tried to seize. Would he be prosperous?
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A
Yes, there is a 10 year look-back for assets
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B
NO, SSI/Medicaid regulations allow this
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C
NO, The state would go after the funds
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D
Yes, the fund needs to be revocable