How can Medicaid find out about an inheritance? - Xmastips

How can Medicaid find out about an inheritance?

Home Forums Home Insurance How can Medicaid find out about an inheritance?

This topic contains 6 replies, has 2 voices, and was last updated by  admin 1 year, 10 months ago.

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  • #86912

    admin
    Participant

    I originally posted this question but feel the need to explain differently. Is it up to the Medicaid recipient to report an inheritance or does inheritance get reported to Medicaid? I’m wondering if a person doesn’t report a change in their finances, does Medicaid seek out this information or do they only seek out the information if they are suspicious or someone reports someone?

    #363069

    admin
    Keymaster

    they may or may not find out..but if you get an inheritance and dont tell them….if and when they find out…you will be fined and/or go to jail for fraud

    #363070

    admin
    Keymaster

    ~~They are suppose to be notified and since inheritance shows up on your income tax then it is very easy for the information to be crossed over to Medicaid.~~

    #363071

    admin
    Keymaster

    Well if you get money and you get a 1099 or similar form from whoever dispenses you the money- they automatically send that information to the IRS. I think they review ,medicaid cases yearly and I know they check your tax returns so it would show up.
    ( Once I applied years ago and they questioned an inheritance I had received 3 years before even though it was all spent I had to explain it)
    It would not be worth it to with hold this information and they do allow you some assets. But if it is a substantial amount you know you will have to refund medicaid and you could be set up for fines and prison if you were reported for fraud.
    Why chance it?

    #363072

    admin
    Keymaster

    You are to report it. The State runs your social Security number against bank accounts and so on twice a year minimum.
    Your inheritance is registered with the probate court.

    #363073

    admin
    Keymaster

    Medicaid spot checks your bank accounts and they check by your social security number and if there are any financial transactions such as investments or large deposits. If you did not cash the check and put the money into a bank account they wouldnt find out. You are legally obligated to report any change in income or household members to them. If someone knows you are on Medicaid and knows you have a lot of money, they can report you.

    Debijs has a good point. The state will get wind of your inheritance when it is reported by the bank or insurance company that issued the check to you. So there are many ways Medicaid can find out if you have defrauded them.

    #363074

    admin
    Keymaster

    You have to report it. It is the right thing to do. If Medicaid is needs based, doesn’t this affect the “needs” part?

    Yes Medicaid checks, there are too many people who are not honest enough to report it themselves. Sadly they need to make sure people who claim they are needy enough for assistance, actually are still needy.

    If a person acts sneaky, they should get in trouble. Honesty is the best policy.

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