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M
mopsygirl Asked October 2016

What are the Medicaid requirements regarding assets?

EXPERT K. Gabriel Heiser Nov 2016
There are different rules for married couples vs unmarried/single individuals. A single person cannot have more than $2,000 in countable assets, which excludes one car, the home, furniture/furnishings, jewelry, etc. Note that different states have different rules for such things as IRAs, 401(k)s, etc.

I have contributed many articles to this website that discuss various topics related to Medicaid planning, which you may find helpful: https://www.agingcare.com/members/GabrielHeiser

Best of luck!

freqflyer Oct 2016
Your best bet is to call your State Medicaid office, as each State has their own rules, regulations, and programs.

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WizerOne Nov 2016
Generally you are only allows minimal assets. Go to: www.Medicaid.gov for more info.

gladimhere Nov 2016
Find an elder law attorney that specializes in Medicaid planning. There are procedures and policy in place so that you do not become impoverished as your husband requires more assistance and possibly nursing home. These programs permit you to maintain assets while hubby's are exhausted while becoming eligible.

TheOne1 Nov 2016
If memory serves me correctly, it's something like a house and no more than $70,000 in liquid assets... But you really need to speak to a Medicaid specialist and an elder law attorney.

Maggie4may Nov 2016
Can a daughter get paid for taking care of her mom that has Alzheimer's, my mom lives with me an I've been caring for her for 5 years an 3 years of not working cause I can't leave her alone

Llamalover47 Nov 2016
While each state differs, you are generally allowed very little in countable assets.

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