Small pension: Take the lump sum payoff offered or the annuity

[elocs]

I am 63 and have been retired for a year now, living on SS but well under the Federal Poverty Level. I live frugally, having no car and Medicaid provides my health care and Foodshare helps keep me fed. I had expected to receive a small pension of $230/month from a job I worked years ago and I just received notification from the company of an offer of a lump sum payment or wait and receive the monthly payouts at age 65. The payout would be $32,000 and I could roll it over into an IRA or take the money.

Here's the rub: that money would be too much for me to be eligible for Medicaid and I would lose the Foodshare as well.
However if I wait and take the $230/month that amount would likely be just enough to put me over the FPL but not enough to really make a difference for me. In fact, I might actually be worse off than I am now.

If I were to take the money it would bump me from Medicaid and other help I get for a few months, but it would allow me to make repairs on the mobile home where I live that I likely couldn't afford otherwise and pay off some other bills that would result in my actually having more income available to me with what I receive now from SS. The rich and corporations have no problems or qualms about looking out for their own best economic interests, so I don't know why the poor should not do the same. I just need some advice on this because I wasn't expecting it to come up at all for another couple of years and maybe the payoff is a blessing in disguise.