Follow
Share

My husband receives medicare and Medicaid due to chronic illness. They put me on a spend down program with Medicaid. We live in Florida. We are on social security only and income is less than $3,000 a month. A piece of vacant land we own is worth $3,000. Does owning this property get us kicked off Medicaid eligibility because we are over the $3,000 assets allowed? Forgot to add property when applying. They want your cash, checking account and asset amounts when applying and keep this separate from income. If your income is in your checking account what do they take into account. I'm so confused. Help.

Find Care & Housing
Notify them now that this was inadvertently missed and you need to know how to proceed. Remember, only half is his.
Helpful Answer (2)
Reply to Isthisrealyreal
Report
CarolAnn66 May 8, 2019
Don't understand only half is his? Is that a good thing or not?
(0)
Report
See 1 more reply
It will be considered an asset if it’s owned in addition to your primary home/residence (homestead) in Florida. The homestead exemption is only applied to one residence/property you own, the one you reside in. Current market value on the vacant lot will be assessed so it’s fortunate for you that it’s only $3000.

Personally, I’d let them know. You honestly forgot to list it when applying but I think it would be better to disclose that now rather than worry about losing Medicaid benefits in the future 🙂
Helpful Answer (4)
Reply to star97
Report

For a pc of land worth 3k, I may not worry about it. A lawyer could cost you that much.

Can it be built on? Sounds like it would be too small for that. To be honest, if its such it can't be sold, I may not worry about it.
Helpful Answer (1)
Reply to JoAnn29
Report
CarolAnn66 May 8, 2019
Lot is 80x100. Can be built on.
(0)
Report
I would consult an elder attorney in your area familiar with your states Medicaid rules. They differ from state to state.
Helpful Answer (3)
Reply to Becky04473
Report

Ask a Question

Subscribe to
Our Newsletter