Can they take your house if you can't afford medical bills?

  • by paulbunyan217
  • Oct 26,2017
  • 4 answers

My parents owe me over 100 grand. I paid off all of their debt, and the house. Their house is worth about a 100 grand. With Obamacare subsidies going away for next year, my parents said they won't afford to have insurance, so they're planning on going without it. My mom doesn't get insurance through work, and my Dad is retired, but too young to get medicare. I'm worried that if they go without insurance, and something catastrophic happens, then they could lose their house. What would happen if my Dad has a heart attack, or something like that, and they rack up a 100k worth of debt or more? Can the hospital take the house? Is there a way to put the house in my name, so that they wouldn't be able to do that? Thanks for any advice!


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Insurance Answers (4)

A Hunch 6 months ago

Obamacare subsidies for individuals are not going away in 2018.
Currently, there is a cap on selected items in subsidized plans such as co-pays. The federal government was paying insurance companies to cover this shortfall. This is the subsidy that is being removed. Instead of the government paying for it, the price for private plans will be jacked up to cover it.
If your parents' can pay their bills, then they will have to file BK. It's unlikely that they will lose their house, if they continue to pay the mortgage, but it's always a possibility. Putting the house in your name to avoid creditors is fraud.
Why would your parents' go without health insurance? that's ridiculous... like you pointed out.
Since your parents' owe you so much money, it would behoove you to pay for their healthcare premiums.

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allycat 6 months ago

Yes house can be transferred to you , do it now before medical bills or it looks bad. Also I do not think they can force sale of house, they may be able to go after funds if house is sold while in parents names as they would be collector going after estate for payment.

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Lyar 6 months ago

The hospital cannot lay claim to your parents property since medical debt is unsecured debt. Instead they would have to take your parents to court and petition the judge to place a lien against the home... That event is incredibly unlikely.
If your only concern is medical bills, then it makes no sense to transfer ownership to your own name. Even with health insurance, you could still be hammered with medical bills yourself. Hell, you could also run someone over and be sued, or fall into credit card debt, or becoming the victim of identity theft... Basically debt can happen to anyone.

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Insurance Pickle.com 6 months ago

Tricky situation. I know someone whose husband thought he'd save some money by not getting insurance in between jobs. He had a heart attack and they ended up losing their house to pay the bills. Now, I don't remember the actual process..whether they were sued, whether they just sold it to get the cash, etc..., but regardless, they lost the house. Prior to housing crisis, the number one cause of foreclosure was health related issues leading to a disability.
And, if you transfer it to your name, what if you get sued? Now they lose the home. You just need to get some non-Internet advice and figure out your best course of action.

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