Medicaid and Assets

Medicaid can be an option for elderly parents with medical problems whose financial resources have been exhausted, but it requires divesting yourself of certain assets. Learn more about which assets you can keep to apply for Medicaid.

Articles About Medicaid And Assets

How Life Insurance Policies Affect Medicaid Eligibility
Some life insurance policies can affect Medicaid eligibility. In order for a nursing home stay to qualify for Medicaid coverage, an elder's assets cannot exceed $2,000 for a single person, or $109,560 for married couples.
Assets You Can Have to Still Qualify for Medicaid
What assets can you have and still qualify for Medicaid? Can your parents keep their house? Their car? Here are asset limits and guidelines for people who are applying for Medicaid and aren't sure what they qualify for.
Leaving Home: Will Medicaid Exempt Your Senior Parent's House?
Even after they enter a nursing home, an elder's personal residence will not be counted as part of their assets.
"Spending Down" to Medicaid: One Caregiver's Personal Journey
Some elderly parents have too much income or assets to qualify for Medicaid, so they must “spend down” or use up their own money to reach Medicaid's eligibility levels.

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Q&A with the Experts on Medicaid And Assets

How can I protect my family’s assets, without disqualifying mom from Medicaid?
Caregivers often want to know how to protect family assets, but ensure their elderly parents still qualify for public assistance benefts such as Medicaid.
Can I spend down mom's life insurance assets to help her qualify for Medicaid?
You can buy your mom's insurance policy from her, and pay her cash, which she can spend down to quality for Medicaid.
Can I hide money from Medicare, so mom can leave her kids an inheritance?
Hiding assets by not reporting them to Medicaid is illegal and considered fraud against the state, with both civil and criminal penalties.

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