Hi, I am Pete Losavio, here to talk to you about the impact of the stimulus check on nursing home Medicaid beneficiaries.
Stimulus checks will not be counted as income and therefore will not impact Medicaid beneficiaries or applicants. The hidden trap is that the money has to be spent within 12 months. If not, it may be counted as an asset and therefore could impact eligibility in the year ahead. Since money is fungible, the best way to handle the stimulus money is to place it in a separate account to keep it identified as stimulus money and be sure it is spent in one year. This makes it possible to track the stimulus money.
If you have any other questions about the stimulus check or Medicaid eligibility, you can contact me by calling (225) 769-4200. Be safe and stay healthy.