Who qualifies for Medicaid, anyway?

Learn how to qualify for Medicaid by meeting the asset requirements, so you can afford the costs of long-term care.

We can help you.

If you want to qualify for Medicaid, the first thing that often comes to mind is gifting your assets to family and friends. That solution only works if there are five years between the gifting date and the date of your Medicaid application (“look back period”). Otherwise, you’ll face a transfer penalty. So how do you plan to qualify for Medicaid without putting your assets at risk? An elder law attorney can help.

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    What are the Medicaid requirements?

    • The individual going into nursing home care is restricted to $2,400 in available assets.
    • The spouse of the individual going into nursing home care is also restricted. The number varies, but it’s often ½ of the available assets (savings, etc.), with a minimum and maximum.
    • Your home, car and personal possessions are considered unavailable assets, so they don’t count toward your qualification. However, Medicaid Estate Recovery can come back for these assets after your passing.
    People are often left with a chunk of savings that leaves them ineligible for Medicaid. The trick is to spend that money to qualify.

    There are a few different ways you can qualify for Medicaid:

    • Pay off debts and prepay expenses
    • Pay off mortgage, credit card debt, make advance payment on real estate taxes
    • Buy non-countable assets
    • Purchase a new car or a new furnace
    • Convert available assets to income
    • Purchase a Medicaid annuity – pay lump sum in exchange for future monthly income to spouse at home
    While Medicaid doesn’t take your home, car or personal possessions into account to qualify, those assets are at risk through Medicaid Estate Recovery after your loved one passes away. To protect your home, savings and investments, consider an asset protection trust.

    There isn’t a cookie-cutter answer for how to qualify for Medicaid – that’s why we take time to listen and learn about your situation before recommending a plan of action to prepare for Medicaid eligibility. We’re here to put our specialized knowledge to work for you. There are fewer than 70 certified elder attorneys in Pennsylvania. We have two of them.

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