Is an inheritance considered an asset?

An inheritance will be counted as income the first month you receive it, and if the inheritance puts you over the income limits for your state, no eligibility for Medicaid for one month. Please see an attorney or call Medicaid for more advice.

And you cannot gift an inheritance on Medicaid either. Consult an attorney about your options.

It’s money! So, yes it is.

absolutely - why wouldn't it be?

Yes.