Q: How does Medicaid look at joined owned savings bonds?
A: Medicaid coverage is for those individuals with little income and a very low asset base.
When applying for assistance, Medicaid will look at all the assets held by the individual to see if they qualify. If the bonds are jointly owned, 50% belongs to the individual applying for assistance and that is what is counted.
For more specific information about enrolling in Medicaid, eligibility, coverage and services for your State, please contact your local Medicaid office. You can view your State's Medicaid Office contact information by visiting the Benefits.gov website. or the Centers for Medicare & Medicaid Services at http://www.medicaid.com/.
Rosanne Rogé is a Certified Financial Planner, Certified Senior Advisor and Registered Financial Gerontologist who leads R.W. Rogé & Company, Inc.
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