Should I give this life insurance policy to Medicaid?

Should I give this life insurance policy to Medicaid?

Q. My husband was on Medicaid, ended up in a nursing home, and died in January 2022. I received a letter from Medicaid saying that his life insurance policy, which was approximately $47,000 $ and had a redemption value of $3,800, had to be redeemed. They said I could have given it to the funeral home, spent the money on his expenses, had my husband put the policy in my name (which would have caused me to lose my Medicaid), or turned it over to Medicaid. I used it to pay off a credit card debt and have nothing left. Was Medicaid right that I should have given them the responsibility?

– Widow

A. We are sorry to hear about your husband.

#give #life #insurance #policy #Medicaid

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