Hi David, Let me clarify. If a person is going to go on Medicaid (*not* Medicare, but Medicaid, the assistance for the poor), Medicaid requires the person to do what’s called a “spend down.” That means the person has to spend most of their own assets before they will qualify for Medicaid. One way to save some of those assets and still qualify for Medicaid is to buy a prepaid funeral that is designated as irrevocable. Medicaid will not count that money toward your eligibility for benefits. Does that make more sense?
Dec 5, 2022 12:00 pm – 1:00 pm