By skyforbes I will be attending graduate school soon and will not have the time to work during this 3 year program. My wife does not work and we have 3 young children. We live in PA and are trying to navigate enrolling in Medicaid, CHIP, and SNAP. Reading stuff online, it seems that my wife and I may not be eligible for Medicaid due to the size of my IRA ($350k). The IRA is in my name with my wife as a beneficiary. We file our taxes jointly. I plan on using part of the IRA and federal loans to cover tuition and living expenses for us over the 3 year program. Some questions for you experts out there.
1) since the IRA is in my name, should we not include myself on the application so the IRA is not included as an asset?
2) if my wife and I end up not being eligible for Medicaid and have to go through another source for insurance, would my children still
Be eligible for CHIP? What about SNAP (food stamps)?
Thanks in advance. If you believe it would be best to present this situation to a professional, please let me know what kind of professional I should be reaching out to (ie CPA, benefits specialist?)