What is the minimum amount of assets to qualify for medicaid?

Asked by

Answers 1 to 10 of 28
Top Answer
I don't know what State you're in but I'm in California. Income for single no more than $2000.00, in us currency. No homes outside of California, and if your parent owns a home it should be in a trust so that the State doesn't try to recover it should anything happen to your parent. Does that help at all?
I'm in CT but I expect it's pretty much the same. Thanks.
Go to this question under community. It's pretty detailed.

"How Can My Elderly Parent Qualify for Medicaid?"
I read that; it wasn't helpful at all. My mother's circumstances are nothing like any of the examples. She has medicare and social security and she isn't going into any kind of nursing home or assisted living and that seemed to be the focus of the article.
Medicaid and Medical are one in the same. Medicare is different. If you have Medical, they will pay for in home care.
What?! Something else I haven't heard of? I haven't heard of this medical before. More stuff to google, I guess. :/

Thank you, Pamela148
Medical is the answer but tricky so read up on it very well. You can get all your supplies through them as well.

Good reading!!
I will read carefully, thanks again!

It depends on the state you live in but you need to talk to a social worker or elder lawyer or social service where you live - I was only into applying to medicaide when my husband died but the social worker at the nursing home had told me what I would have been allowed to have come in each month and is was more than 2000.00 dollars but I do not remember why that was but they do not allow for what debts you have even if they were because of the spouse who is the one going to receive medicaide and they are not concerned how much taxes are or whatever it seems they want the spouse still living in the home to be penniless even my life insurance was considered an assest of mine when he would get medicaide. You really need a lawyer to have someone on your side when applying for medicaide.
Oh! Wait, that's not 2,000 per year? Oh... In that case, I need to rethink this!

Share your answer

Please enter your Answer

Ask a Question

Reach thousands of elder care experts and family caregivers
Get answers in 10 minutes or less
Receive personalized caregiving advice and support