Everything that you own is not considered to be a countable asset for Medicaid purposes. However, the limit on countable assets is $2000 for an individual applicant. At this point we should provide a rundown of assets that are not considered to be countable, and we will start with the biggest one. Your home is not looked upon as a countable asset, but there is an equity limit. This limit is increased every year to account for inflation, so it could be slightly higher next year, but in 2015 the limit is $828,000.
Topics covered in this report include:
- Medicaid Asset Limit
- Three Tips to Provide Inheritance Planning Insight - June 11, 2021
- Veterans Pension Can Defray Long-Term Care Costs - June 7, 2021
- How Can a Special Needs Trust Trustee Use the Funds? - June 3, 2021