We have covered the difference between exempt and nonexempt assets in the past when it comes to applying for Medicaid. However, the question remains, how do you transform an nonexempt asset into an exempt asset? Brief overview of the importance of exempt and nonexempt assets As we previously pointed out, exempt assets are not counted […]
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What is the difference between exempt and nonexempt assets when applying for Medicaid?
There are differences between exempt and nonexempt assets when it comes to applying for Medicaid. Understanding the distinction between exempt and nonexempt assets can make the difference between spending and saving tens of thousands of dollars. What does it mean for an asset to be exempt? An exempt asset does not count against your Medicaid […]
Read more...How Is Income Treated When Applying For Medicaid?
We previously discussed the differences between assets and income in regards to applying for Medicaid. Now we will examine how Medicaid treats income. The information below is an abbreviated overview of individual income taken into account for eligibility under Medicaid. For married couples, both incomes are considered when determining Medicaid eligibility. When the income is […]
Read more...Medicaid’s Spousal Impoverishment Protection Law
The Spousal Impoverishment Protection Law applies for nursing home admissions occurring on or after September 30, 1989. Protection under the law applies to nursing home, in-home and community type care services under the Medicaid Aged and Disabled Waiver. The purpose of the law is to allow the community spouse to keep some of the couple’s […]
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