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I didn't quality for medicaid as a single mom when my total income was $900 a month unemployment and $600 social security death benefit that my then minor son received. Is this a case of "house rich/cash poor" or whatever the expression is?? And my rent was $1300 a month.
This is why people should seek proper forums rather than posting random questions here; responses are snarky at best, the rest.....
Medicaid eligibility has caps on both assets and income. This is natural since the program is for the truly indigent, not those who may have low income (on paper) but significant assets like a real estate.
Limits on income and assets vary and can be confusing. Much depends on household status (single, married, etc..) and a few other factors.
People who have low income, but significant assets (well at least enough to disqualify them from Medicaid) often "spend down" things in order to get Medicaid. Families often do this because Medicaid pays for things Social Security does not in terms of healthcare. You can be truly busted and getting Social Security, but also collect Medicaid if total wealth is low enough.
OP you see to find a competent attorney and or Medicaid adviser who will look at your situation, then advise how to proceed. State Medicaid officials obviously are wise to all the tricks regarding spending down of assets, so things have to be done in a certain way if that is what you are thinking about doing.
thank you everyone for the links and input, just to clarify I am 39 yrs old. So no, i am not looking for long term care yet. When i try to research this topic, one thing that keeps coming up is for long term care, so i cannot find info specific to age below 65. I am single, no children, so one person in my household. Currently have essential plan 1 through NYS Marketplace. I meet the income requirement but trying to find out how owning a home may affect my qualification.
Last edited by margharita23; 04-07-2020 at 03:19 AM..
thank you everyone for the links and input, just to clarify I am 39 yrs old. So no, i am not looking for long term care yet. When i try to research this topic, one thing that keeps coming up is for long term care, so i cannot find info specific to age below 65. I am single, so one person in my household, I meet the income requirement but trying to find out how owning a home may affect my qualification.
health insurance is only income related. assets don't count...... it is only when you get in to long term care that it is very complex
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