The Federal Trade Commission issued a warning that nursing homes in several states are trying to require their Medicaid residents to sign over their stimulus checks. However, according to the CARES Act, these payments are tax credits, and tax credits do not count as “resources” for the purposes of federal benefits programs like Medicaid.
Individuals who reside in long term care facilities typically manage their own money or appoint another person to handle their financial affairs. The stimulus funds are to be handled as any other resident benefits. Since stimulus payments do not count as income, they do not affect Medicaid eligibility or qualify as a Medicaid resource.
The FTC encourages anyone who has a loved one in a long-term care facility who receives Medicaid to check on them and confirm they received and retained their funds. If their stimulus funds have been taken, it is recommended that the contact their state’s Attorney General and then file a complaint with the FTC.
Unfortunately, our elderly population is arguably the most susceptible to financial abuse and exploitation and the COVID-19 pandemic created any number of avenues for their mistreatment. Lindley Law is proud to protect and serve our senior community to prevent elder abuse.
If you any questions regarding guardianship proceedings or other mechanisms for safeguarding your loved one’s finances, please call us at (704) 457-1010 to schedule a consultation. For more information regarding our firm, attorneys, and practice areas, please visit http://www.lindleylawoffice.com/.