List Of Assets That Do Not Count Toward Eligibility

Types of assets that are NOT counted. These include:

• Your home
  
• Personal belongings and household goods
  
• One car
  
• Income-producing real estate. The annual income after expenses must equal 6% or more of your equity.
  
• Burial spaces and certain related items for you, your spouse and members of your immediate family.
  
• Up to $1,500 designated as a burial fund for you or your spouse.
  
• Irrevocable funeral contract.
  
• Value of life insurance (if face value is $1,500 or less)
  
• Assets which you and your spouse do not have the legal right to use or dispose of.
  
• Assets you and your spouse have not been able to sell (the asset must have been for sale at a fair market value for at least 30 days).

In the event of jointly held assets, Medicaid will assume that each person owns an equal share of the asset. In the event of joint cash assets, Medicaid will count the entire amount as belonging to the applicant unless it can be proven that some of the money belongs to other persons.

*Medicaid rules and guidelines differ by state and can change yearly, you should contact your local Medicaid office for the most current information.

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