Q: Are my spouse's income and assets included if I apply for Medicaid?

A: While your spouse's income is not included in determining your eligibility, your marital assets would be considered. However, income and savings above maximum limits can be protected, and Medicaid Eligibility, Inc. can show you how.

Q. What assets are excluded from the Florida Medicaid eligibility asset test?

A. Homestead - The home is excluded if the spouse, or certain dependent relatives, continues to reside in the home, or the applicant intends on returning to the home.

Vehicle - One vehicle of any age may be excluded, along with a second vehicle if it's over seven years old, and not an antique, luxury or custom model.

Life Insurance - If the total face value of all of the policies exceeds $2500, the cash value would be considered an asset. If the total face value of all of the policies is less than, or equals $2500, then the cash value would be excluded as an asset.

Burial Funds and Prepaid Funeral Contracts - In an irrevocable burial contract, the full value is excluded regardless of the amount. There is also a $2,500 exclusion of funds designated for burial expenses. A new bank account (e.g. John Smith Burial Account) may be established for this purpose. In addition, one burial plot is permitted for each family member.

Personal / Household Goods – These are items within the home such as furniture

Retirement Accounts – Money in these accounts are not counted in the asset test as long as they are properly structured.

Immediate Annuities – As long as they are properly structured, annuities are excluded from the asset test. If the annuity is not structured correctly, the family may tie-up assets and be denied Medicaid benefits. This is an important reason to contact a knowledgeable Medicaid Eligibility Practitioner

Ongoing Business Concerns - Since they generate income for the applicant that is ultimately contributed towards the cost of care as patient responsibility , ongoing business concerns are typically excluded as assets. Other real property that is rented or listed for sale is also excluded.