Correction: not "tax credit", I looked and saw the auto deposit is being identified as TAX RELIEF. Still, not income and will have no impact on qualifying for programs such as Medicaid.
My MIL is in a LTCF and on Medicaid and she received the TAX CREDIT (not "stimulus", not tax refund). It is NOT income and won't be counted as such. I just had an accountant explain it to me. Again, it is not income. And even though one did not file taxes it is considered a credit.
That makes sense but what about putting them over the asset/cash limit? Seems like it could easily do that for some or is it just seen as being that separate? Could it be gifted without penalty?
It depends also on whether someone claims you as an adult dependent on their tax return. If you don’t claim your own deduction, like some college students or seniors helped by family members, then you won’t qualify.
I think everyone who files a tax return or is on SS does, I don’t think it has anything to do with where one lives. I’m not sure how Medicaid would treat it for a LT Care Medicaid patient but that’s a different situation and question, one I’m sure will come up eventually when everyone isn’t still in pandemic mode.
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If over $75,000.00 the amount will be reduced.
Check out this article. https://www.agingcare.com/articles/coronavirus-stimulus-checks-what-seniors-and-caregivers-need-to-know-458006.htm
https://www.medicaidplanningassistance.org/covid-19-stimulus-checks-impact/