Each Medicaid "Class of Assistance" has eligibility limits on resources. You might call them assets, savings or property. The rule is that you have to be "poor enough" to qualify for Medicaid.
When applying for nursing home Medicaid or home health care Medicaid, the rule is identical. The applicant is allowed to keep $2,000 in countable assets. Something must be done with all other assets before the applicant is eligible for Medicaid.
The healthy spouse of a Medicaid applicant is allowed to keep an additional allowance. This year (2010), that allowance is $109,560. Something must be done with all other countable marital assets before the sick spouse can get Medicaid. It does not matter whose name is on the asset. It does not matter how the assets were acquired.
Certain assets/resources are specifically exempt and virtually all other assets are countable. At this time, the homeplace is exempt (with certain limitations including an equity limit for single applicants), one vehicle, personal possessions of nominal value, qualifying burial plans, and a limited number of other assets.
Even if an asset is exempt when you apply for Medicaid, it may still be subject to an Estate Recovery claim after you die. In other words, just because Medicaid pays the nursing home bill does not mean assets are protected.
If you are seeking additional information, a copy of the Georgia Medicaid Manual is on our website. However, we strongly advise you to seek professional assistance in planning for Medicaid eligibility.
This website may be considered an advertisement. If so, Tennessee requires that all attorney advertisements state whether attorneys who specialize have sought and secured certification. In that regard, "Elder Law" is a field where attorneys may be certified as specialists in Tennessee; Mr. McGuffey is Certified as an Elder Law Attorney by the National Elder Law Foundation and as an Elder Law Specialist by the Tennessee Commission on Continuing Legal Education and Specialization. Mr. McGuffey is certified as a Civil Trial Specialist by the Tennessee Commission on Continuing Legal Education and Specialization. The Georgia Bar Association does not currently certify attorneys as specialists.
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