Will Life Insurance Payout Affect Medicaid Eligibility?2022-11-152022-11-15https://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.pngElise Lampert, Attorney At Lawhttps://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.png200px200px
It depends on who the beneficiary of the life insurance was. If it was your dad, which sounds like the case, then it’s his money. If he needs to apply for Medicaid benefits during the next five years it could cause a penalty, meaning he would be ineligible for benefits for a period of time based on the amount of funds transferred.