not necessarily. medicaid doesn't prevent people from using tools such as the reverse mortgage to convert equity in their homes into income. but you need to be careful because there are conditions and rules can vary by state. i highly recommend you contact your state medical assistance (medicaid) office which has information about state programs that help pay health and nursing home costs as well as services in the community for people with low incomes and limited resources.
does getting a reverse mortgage on my home affect me qualifying for long term care medicaid?