I have one piece of rental property. Do I have to get rid of it to qualify for Medicaid help? Thank you!!

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If you are under the age of 65...then you must know that Florida did not accept the Medicaid, nothing you can do to qualify.

If you over the age of 65, then the rules are simple.....

You must spend down your TOTAL assets to below $2,000.
The spend down is ... 1)your own medical needs, 2)your own housing needs 3)your own funeral expenses, 4)your own car.

If you give away any doesn't is still counted and even though you gave it away you must still spend the value in yourself.

The real estate that you do not live in yourself will have to be sold and the money you get must be spent on your own needs....see the list above.

You will not qualify for Medicaid until you are below that $2,000 limit. total income from all sources must not exceed approx. $2,000 monthly. There are special trusts you can set up to put income into...but...Medicaid is the beneficiary of those trusts.

Understand MEdicaide is there to help those people too poor to help themselves. If you own rental are not too poor to take care of yourself.
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