Current Events > Huh... just found out my in-laws have a couple million saved up.

(+) Yeah! (+)

They live in a cheap apartment ($800/mo in Queens, NY), and live extremely frugally. They also have Medicaid and dont work a whole lot... always thought they werent doing so hot.

Turns out they have a couple million euros in Belgium (where they immigrated from), that they never brought over.

I thought it would be a pain later in life when we would have to take care of them in their end-of-life stages, but I guess not.

Also, how brilliant is that, that they chose to live poorly and work meager hours so that they get free health insurance and government assistance? They essentially retired like 20 years ago when they immigrated here.

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IdiotMachine posted...

They live in a cheap apartment ($800/mo in Queens, NY), and live extremely frugally. They also have Medicaid and dont work a whole lot... always thought they werent doing so hot.

Turns out they have a couple million euros in Belgium (where they immigrated from), that they never brought over.

I thought it would be a pain later in life when we would have to take care of them in their end-of-life stages, but I guess not.

Also, how brilliant is that, that they chose to live poorly and work meager hours so that they get free health insurance and government assistance? They essentially retired like 20 years ago when they immigrated here.

That's straight up fraud.

https://www.cms.gov/About-CMS/Components/CPI/CPIReportingFraud
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I always have to do a double take when I check a IdiotMachine topic since I think of CompleteIdi0t off the bat

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harley2280 posted...

That's straight up fraud.

https://www.cms.gov/About-CMS/Components/CPI/CPIReportingFraud

Really? Theyre not US citizens though (permanent resident). I dont think their previous income or non-US assets matter.

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harley2280 posted...

That's straight up fraud.

https://www.cms.gov/About-CMS/Components/CPI/CPIReportingFraud

I don't know where they are or what the rules are in other states but in California there are no property limits for Medicaid for most people under 65. Cash on hand is considered property. All that matters is current income and things like household size.

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JJH777 posted...

harley2280 posted...

That's straight up fraud.

https://www.cms.gov/About-CMS/Components/CPI/CPIReportingFraud

I don't know where they are or what the rules are in other states but in California there are no property limits for Medicaid for most people under 65. Cash on hand is considered property. All that matters is current income and things like household size.

Interest is considered income though.

According to tradingecomomics.com the interest rates in Belgium are around 1.5% on 2 Million that would be 30K a year. Which is far more than any states Medicaid income threshold.
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harley2280 posted...

Interest is considered income though.

According to tradingecomomics.com the interest rates in Belgium are around 1.5% on 2 Million that would be 30K a year. Which is far more than any states Medicaid income threshold.

Theyre not collecting any gains stateside. Its being kept there.

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IdiotMachine posted...

harley2280 posted...

Interest is considered income though.

According to tradingecomomics.com the interest rates in Belgium are around 1.5% on 2 Million that would be 30K a year. Which is far more than any states Medicaid income threshold.

Theyre not collecting any gains stateside. Its being kept there.

It doesn't matter. The fact that it's in another country doesn't change anything. It's still income and is required to be reported to CMS. They're committing fraud and taking resources away that could go towards people who are actually in need
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harley2280 posted...

It doesn't matter. The fact that it's in another country doesn't change anything. It's still income and is required to be reported to CMS. They're committing fraud and taking resources away that could go towards people who are actually in need

It absolutely does matter, combined with the fact that theyre not US citizens. US citizens have to pay taxes on all income, even outside of the states.

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IdiotMachine posted...

harley2280 posted...

It doesn't matter. The fact that it's in another country doesn't change anything. It's still income and is required to be reported to CMS. They're committing fraud and taking resources away that could go towards people who are actually in need

It absolutely does matter, combined with the fact that theyre not US citizens. US citizens have to pay taxes on all income, even outside of the states.

Taxes have nothing to do with this. Any bank accounts, assets and income you have is required to be disclosed when you apply for Medicaid. Most states deny you even if you're .01 cent over the income limit. (Others have a buy-down, which basically functions like a deductable).

Dealing with Medicaid and Medicare eligibility is literally what I do for a living. They're committing fraud.
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