The Applicant

 

$13,800 Prepaid Funeral in an

Irrevocable Trust

$1,500 Face Value of Life Insurance

If the total face value of the policies

exceed $1,500 the entire cash value

counts as an asset.

 

Resource Allowance for a married couple at Home:  $20,100

Income Allowance for Nursing Home resident: $50 a month


Income Allowance for Home Care:

 

Single person:     $787.00

Married Couple:  $1,137.00 

 

Note: Veterans or widows of a veteran, may be eligible for Aid and Attendance benefits.  This income is not countable for Medicaid.  You should contact the local Veterans Administration Counselor.

 

Exempt Transfers of the house may be made to:

  • Spouse
  • Primary Caregiver - a child that has lived with a parent and kept them out of a nursing home for 2 years
  • Siblings with an equity interest who have lived together 1 year
  • Disabled child of any age
  • Children under 21

Exempt Transfers of assets may be made to:

 

  • Spouse
  • Disabled child of any age

 


Medicaid Income and Resource Levels


Phone: 518-283-5315

Fax: 518-283-5363

Email: sharon2642@nycap.rr.com

www.starsforseniors.com


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Text Box: Sharon Tuszynski’s Application & Referral Service for Seniors, L.L.C. 518-283-5315Text Box: “It is imperative, before developing a spend down plan, that we evaluate the ownership of assets using the rules set by the Department of Social Services such as the rules concerning joint accounts.