MEDICAID

MEDICAID ASSETS (RESOURCES) STANDARDS

In order to be eligible for Medicaid benefits, an individual may not have assets worth more than approximately $13,000.00.  For couples, the assets standard is approximately $19,000.00.  There are two important exceptions to this rule.  The applicant's primary residence, up to a value of $750,000.00, will not be counted toward an applicant's resources by Medicaid.  Also, money held in an IRA or other retirement account will not be considered a resource by Medicaid if the account is in a "pay" status, i.e. the applicant is over the age of 70 ½.