Medicaid Consequences of Obamacare

If you have ever enrolled in Medicaid or are contemplating signing up for it, please read on.  “The current law will result in your house and other financial assets being seized to pay all Medicaid-incurred expenses if and when you die.  Sorry, but that is the current law.  Therefore, make sure you spend and/or give away all equity you have to the limit of your ability if you are currently on Medicaid or have ever used this program.  Now, if you have Medicaid or ever have used it, the reverse mortgage strategy makes perfect financial sense, especially for older Americans.”  Why?  You definitely want to draw down the size of those financial assets to make sure Obamacare (federal government) cannot seize those assets upon your death.  In other words, there really is no such thing as a free lunch.