My experience was with dealing with my mom & mil for NH medicaid application, for both ladies 2k was the maximum allowed for cash-value assets (held in a checking account in their name & SS# & they had to both included with the application bank statements showing beginning & ending the month under 2k, if over 2k, it must be spent down to be NH medicaid eligible. If there is a community spouse or they are doing community based Medicaid (like PACE), the amounts could be different. I was dealing with NH medicaid.
They were allowed a homestead & a car as exempt assets.
Their monthly income needed to be within the amount set by their states' medicaid program. This will be a specfic figure different possibly for each state as Medicaid is administered by each state uniquely. For my moms initial application, it was $ 2,064.00. My moms combined income (before $ taken out for medicare) was about $ 1900 so she was good. Once Medicaid pending, all monthly income must be a copay or SOC (share of cost) LESS a smallish personal needs allowance. PNA varies by state - most have PNA at $ 60 mo. If they continue to own their home or a car, family will need to pay all costs as their income must become the SOC.
If they are in a facility, the DPOA has to make sure that the PNA $ and whatever assets are out there in the bank account stay below 2k. If your state does an annual Medicaid renewal, they could ask for 3 - 4 mos of bank statements to make sure they are still eligible. If over 2k, state could suspend eligibility.....you don't want to go there so you can't let $ build.
Basically become impoverished & stay impoverished.
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They were allowed a homestead & a car as exempt assets.
Their monthly income needed to be within the amount set by their states' medicaid program. This will be a specfic figure different possibly for each state as Medicaid is administered by each state uniquely. For my moms initial application, it was $ 2,064.00. My moms combined income (before $ taken out for medicare) was about $ 1900 so she was good. Once Medicaid pending, all monthly income must be a copay or SOC (share of cost) LESS a smallish personal needs allowance. PNA varies by state - most have PNA at $ 60 mo. If they continue to own their home or a car, family will need to pay all costs as their income must become the SOC.
If they are in a facility, the DPOA has to make sure that the PNA $ and whatever assets are out there in the bank account stay below 2k. If your state does an annual Medicaid renewal, they could ask for 3 - 4 mos of bank statements to make sure they are still eligible. If over 2k, state could suspend eligibility.....you don't want to go there so you can't let $ build.
Basically become impoverished & stay impoverished.
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