Medicaid Asset Limits Articles
Understanding Medicaid’s Lookback and Penalty Periods
Gifting an asset can cause problems if you later need to apply for Medicaid to cover a nursing home stay. Learn the details of Medicaid lookback and how it impacts the Medicaid penalty period.9 Comments
Assets You Can Have to Still Qualify for Medicaid
What assets can you have and still qualify for Medicaid? Can your parents keep their house? Their car? Here are asset limits and guidelines for people who are applying for Medicaid and aren't sure what they qualify for.77 Comments
Entering a Nursing Home: Will Medicaid Exempt Your Parent's House?
Under current Medicaid laws, your home is an exempt resource when determining eligibility, but residence within the home determines its protected status. Learn when an exempt home becomes a countable asset.11 Comments
Protecting the Home from Medicaid with a Life Estate
Is your parent paying for nursing home care with Medicaid? Learn how to use a life estate as an advance planning technique to allow families to retain ownership of their most important asset, their home.11 Comments
Veterans Aid & Attendance Gets New Eligibility Rules
The Department of Veterans Affairs gave notice that it will be changing the rules for Aid & Attendance pension eligibility. This will impact benefits for veterans and for you as the caregiver.82 Comments
“Spending Down” to Medicaid: One Caregiver’s Personal Journey
For many families, navigating Medicaid eligibility seems complicated and the spend down process is one of the trickiest parts. Use this caregiver’s experiences to inform your own Medicaid planning strategy.85 Comments
Can Mom gift money to her grand kids so Medicaid won't take it to pay for her nursing home?
This is a difficult dilemma, and one that many families are facing. The dilemma can often be avoided or mitigated with advance planning, but that doesn’t help in your case.25 Comments
A Quick Guide to New York Medicaid
Medicaid is a complicated program with state-specific rules that can help pay for long-term care services for seniors with low income and limited resources. Explore New York State's rules for income, assets and coverage.0 Comments
Medicaid Divorce: Is it a Viable Planning Option?
Medicaid forces a couple to divest themselves of the assets that they had planned to use for their retirement or to pass on to their family. When it comes to Medicaid planning, in some cases a couple may be better off financially if they're divorced.7 Comments
How Does a Domestic Partnership Affect Medicaid Eligibility?
There are countless facets involved in determining if a person if eligible for Medicaid, but relationship status does have an impact. If you think you or your loved one may eventually need Medicaid, be sure to take your marital status into consideration.3 Comments
Medicaid vs. Inheritance
Inheritance and bequests are usually wonderful gifts, but for a beneficiary on Medicaid, these funds can jeopardize their eligibility for benefits.19 Comments
Moving to a New State Can Affect Medicaid Eligibility
What happens if you or your family member must move from one state to another and then apply for Medicaid? How does moving to a new state affect Medicaid eligibility?4 Comments
Married Couples Should Update Their Will to Avoid Medicaid Misery
This path of inheritance is the normal distribution under many states' "intestacy statute" (the law setting forth the distribution of the property of a decedent with no will).1 Comment
Buying a House with an Aging Parent Affects Medicaid Eligibility
For an aging adult with a small house—or no house at all—and too much in excess assets to qualify for Medicaid, one possible solution is to purchase a new house together with one of their children.6 Comments
How Moving in with a Family Member Affects Medicaid Eligibility
It might not be a good idea for a senior to live on their own as they age. A better solution may be to move in with an adult child who owns their own home and purchase a "life estate" in their house.8 Comments
If I divorce my husband, will he be eligible for Medicaid?
Sometimes couples are willing to take the big step of obtaining a divorce in order to protect their assets, so that the ill spouse can qualify for Medicaid without impoverishing the well spouse.12 Comments
How Life Insurance Policies Affect Medicaid Eligibility
Some life insurance policies can affect Medicaid eligibility. In order for a nursing home stay to qualify for Medicaid coverage, an elder's assets cannot exceed $2,000 for a single person, or $109,560 for married couples.25 Comments
Can Medicaid Take Mom's House to Pay the Nursing Home?
Can Medicaid or a nursing home take your house to pay the nursing home costs? Learn the rules and requirements regarding whether or not Medicaid can take a house to pay the nursing home.43 Comments
Do joint savings bonds count as income for Medicaid eligibility?
If the bonds are jointly owned, 50% belongs to the individual applying for assistance and that is what is counted and looked at by Medicaid.1 Comment
How Can My Elderly Parent Qualify for Medicaid?
Find out how annuities play into Medicaid planning for your elderly parents. It may seem hard to believe that annuities can help the elderly qualify for Medicaid - yes, Medicaid. This is sometimes called the "Half-A-Loaf" approach, and in certain cases, it can be a lifesaver for those who need the help the most.45 Comments