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Can You Lose Your Home To Medicare If In Trust?

01/15/2023

two people shaking hands with a model house and paperwork between them

No, Medicare cannot take your house if it is in a trust. Trusts are legal arrangements that allow you to transfer ownership of your assets to a trustee, who is responsible for managing and administering the trust for the benefit of the beneficiaries. When you transfer ownership of your assets to a trust, they become the property of the trust rather than your personal property. This means that Medicare or any other creditor cannot seize or take possession of the assets in the trust to satisfy a debt or claim.

However, it’s important to note that if you have a trust and receive Medicare benefits, there may be certain restrictions on how to use your trust assets. For example, if you have a Medicare Advantage plan and you receive additional benefits through the plan (such as coverage for prescription drugs or eyeglasses), you may be required to use your trust assets to pay for those benefits before you can use your Medicare benefits.

It’s always a good idea to consult with an attorney or financial advisor if you have questions about how a trust can affect your Medicare benefits or other financial matters.