TSP Funds

General TSP Discussion.

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TSP Funds

Post by Vmax2005 »

What happens to your "TSP Funds" if you end up in a nursing home ?
Does the nursing home take them ?

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Re: TSP Funds

Post by jimcasada »

I think that nursing homes are mainly run or regulated by the State. I'm not sure if the State can touch funds in a TSP, but I am sure they would want to get reimbursed for any services they helped provide. I think the bigger question would be just what can the State or anyone else do to tap into somebody's TSP (back taxes, liens, student loans, law suits, etc)?

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Re: TSP Funds

Post by ChuckWlsn »

I think your only allowed to have $1500 or less in assets if you're on medicaid to pay for the nursing home. If you can pay your own way, you can't get medicaid. TSP funds can be a an asset that keeps you from qualifying for medicaid. My guess is the account would have to be withdrawn and closed so the money is available to pay for the nursing home care. My mother and step father had to get a divorce, cause of the value of their house, that was in both of their names. Leaving my mother with her social security only.

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Re: TSP Funds

Post by Scarfinger »

I have seen it a couple times were a husband and wife get a divorce just so they can qualify for Medicaid because they made to much with combined income. It usually happens when one is going into a nursing home.
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Re: TSP Funds

Post by evilanne »

I don't thing most Civilian Government employees (anyone posting here) with a pension would ever qualify for medicaid, particularly if they have medicare and FEHB. There may be some exceptions if you have a really low pension. Same for military with tricare. Medicare is primarily for people at or below the poverty level. You would have to deplete all your assets before qualifying for Medicare and then I'm not sure military or civilian would qualify.

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