MEDICAID IN FLORIDA - THE ASSET TEST

 


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 2014, the community spouse may only have $117,240 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.