Yes, you can spend the money as your propose. However, Medicaid's asset limit is significantly higher for you, so you can simply transfer the funds into your name and your husband will be eligible for Medicaid. You might also want to see if Medicare will pay for your oxygen concentrator.
Learn more about Medicaid's protections for the healthy spouse in this article. You may also want to check out the following:
- Community Spouse Resource Allowance: Protecting a Healthy Spouse From Poverty
- Spending Down Assets to Qualify for Medicaid.
- Other articles on Medicare
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