Will withdrawing a 401k make my parent lose Medicaid?
Pulling money from a retirement account counts as income or assets that can push an aging parent over Medicaid limits. The look-back period and withdrawal rules make it easy to accidentally jeopardize their healthcare coverage just by processing the paperwork.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1asking for help on online forumsDid this help you?
- 2looking for a fee-based fiduciary financial plannerDid this help you?
- 3consulting an elder law attorneyDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“He retire and on Medicaid don’t want him to lose it because of his age of look back”source ↗
“He on Medicaid and don’t want to jeopardize it as of now he don’t have access to it”source ↗
“Hi there i am trying to withdraw my dad 401k retiarement account he turning 65 next month how do i process the paperwork”source ↗
Where this came up
People with this problem also raised
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- 13When is the best time to do a retirement account rollover?
- 3Should I sell brokerage investments to max out retirement accounts?