Apr 02, 2015 - 12:04 PM
The income level for eligibility for Medicaid varies from state to state.
If individuals incomes meet the state requirement for eligibility, but also have other assets, such as a savings or IRA, they must spend down those savings to become eligible.
Your state’s Medicaid website will provide general information about Medicaid eligibility and phone numbers to get more personalized information.
Even if one does not meet the criteria for eligibility, the counselor may have other programs available for the individual.
Mar 16, 2016 - 12:46 PM
You have to be pretty poor to qualify for Medicaid. There are some different standards in each state, but the general rule is that you can have no more than $2,000 of countable resources. The key word is "countable." There are some assets that are not counted towards that $2,000 number, such as: a personal residence, some burial policies, life insurance, a car and some personal items. It is important that you consult your own state's Medicaid rules, as there are different standards in each state for exempt resources.
Mar 16, 2016 - 12:48 PM