An applicant may have only $2,000 of "countable assets" in order to qualify for Medicaid. However, if the applicant's monthly income is less than $743, they can keep $5,000 of assets. As of 2007, the community spouse may only have $101,640 of countable assets.
| |
Examples of countable assets include:
- CD's
- Savings Accounts
- Checking Accounts
- Bonds
- Stocks
- Money Market Accounts
|
|
|
Examples of Excluded assets include:
Homestead
Vehicle
Life Insurance
Burial Funds and Prepaid Funeral
Contracts
Personal/Household Goods
Retirement Accounts
Properly Structured Immediate Annuities
Ongoing Business Concerns
|
Those assets not classified as "countable assets" are referred to as "excluded assets" and are not counted by Medicaid.
|
