Will cryptocurrency windfall end my SSI and Medicare/Medicaid at age 69 with lung disease?

This is definitely a complicated situation. First, you need to understand that cryptocurrency is considered a resource/asset by SSA, and the SSI resource limit is only $2,000 for individuals. Once you receive the crypto, you'll be over the resource limit and will lose SSI eligibility. Regarding Medicare - if you're 69, you should already be on Medicare due to age (not disability). Medicare should continue regardless of your SSI status. However, the Medicaid supplement that helps with Medicare premiums and copays (probably a Medicare Savings Program) will be affected by your new resources. You should speak with a benefits counselor or elder law attorney ASAP. There may be options like spending down assets or establishing a Special Needs Trust that could help preserve some of your benefits.

this happened to my uncle!!!! he got a big insurance settlement and lost his medicaid right away, couldnt even keep his same doctors. took like 6 months to get it all sorted out and cost him like $20k in medical bills before he got on a medicare advantage plan. u should cash out some of that crypto ASAP and get a lawyer who specializes in this stuff. the ssa people wont help u with this, they'll just cut ur benefits

You're in a tricky situation but there are some options. Since you mention your condition gives you 3-5 years, you need to carefully plan how to handle this asset. 1. You MUST report the crypto within 10 days to SSA as it's a countable resource. Failure to report could result in penalties/paybacks. 2. For Medicare: At 69, you'll keep Medicare regardless of SSI status. But you'll likely lose your Medicaid if your assets exceed the limit. 3. Options to consider: - Spend down: Use funds for exempt purposes (home modifications, medical equipment, prepaid funeral, etc.) - Special Needs Trust: These take time to set up but can protect assets while maintaining benefits - ABLE account: If your disability began before age 26 (probably not applicable) 4. Most importantly: Get professional help immediately from an elder law attorney familiar with asset protection and benefits planning. The consultation fee will be worth avoiding mistakes.

I was in a similar situation two years ago when I got an inheritance. Lost my SSI immediately. The worst part was dealing with Social Security's phone system - I tried for WEEKS to reach someone to discuss my options and kept getting disconnected or waiting for hours. I finally tried a service called Claimyr (claimyr.com) that got me through to an actual SSA agent in under 20 minutes. They have a video showing how it works: https://youtu.be/Z-BRbJw3puU Once I got through, they connected me with their local office's benefits counselor who explained my options. Definitely worth it because I needed answers fast before making irreversible decisions about my benefits. Good luck with your situation!

CONVERT THE CRYPTO TO CASH IMMEDIATELY!!! The SSA has NO IDEA about crypto unless you tell them. My cousin had this EXACT situation and he just kept quiet about it and nothing happened. These government agencies don't know anything about blockchain or wallets. Just saying... sometimes the "right" thing isn't the smart thing. They've probably underpaid you for years anyway!!!!

Just wanted to mention - make sure you understand the tax implications of your crypto as well! When you convert crypto to cash it's a taxable event and depending on how long your nephew held it and what he paid, you could owe significant capital gains tax on top of everything else. The IRS and SSA don't directly share all information but both will eventually know about large financial changes.

My aunt with COPD had to transition from Medicaid to just Medicare last year and she found a really good Medicare Advantage plan that covers most of her respiratory treatments and oxygen supplies. Not saying it's ideal but there are options if you do lose Medicaid. Also her social worker at the hospital helped a lot with finding patient assistance programs for her medications - have you talked to your hospital's social work department?

Here's what I recommend based on your follow-up comments: 1. Yes, paying for legal consultation is a legitimate expense and wouldn't count against you for spend-down purposes. 2. Look into Qualified Income Trusts (QITs) or Miller Trusts as well - they can help with income limit issues. 3. For your immediate needs, don't convert all the crypto at once. Work with an attorney first to establish the proper structures. 4. Since you mentioned a 3-5 year timeline, you might want to explore how to balance maintaining some benefits while using the crypto to supplement your care and improve quality of life. 5. Medicare Part D Extra Help program might be an option to help with prescription costs even if you lose full Medicaid. Remember that timing and sequence of actions is critical with asset transfers and benefit eligibility.