State based government benefits like Medicaid, Social Security Income(SSI), food stamps and HUD housing benefits are vital to making it emotionally and financially each and every month.
These benefits are income tested, although in some states they are also asset tested benefits. Understanding the criteria for “eligibility” is an important part of their lives.
If you represent them, or are reading this for a loved one, this post intends to give you the basics on what to do, how to proceed if the lawsuit is settling, and everyone wants to know what their options are.
Can you just take the cash? Of course, that is the first fundamental question. As you will learn, everything you do with money when you are on state and federal based government assistance programs will have a consequence. You are entitled to take your settlement in cash, and that may be the best course of action. Under most states, there are “spend down” provisions which generally allow you to spend most of your settlement down within a certain time frame and not jeopardize any of your benefits. If you park the settlement in the bank, most states will disqualify you for your current benefits, until it’s spent
Article source: https://health.einnews.com/article/329665562/offo0qSaPP72h55C?ref=rss&ecode=uiQ1mLaH2KVPSS4e