Married Couple
Spouse at home keeps
- House
- Furnishings
- One Car
- Half of joint assets – up to $128,640 for 2020
- Up to $3,216 in monthly income in 2020
Spouse in nursing home: Uses remaining available assets and income to pay long term care bills
Runs out of money: Medicaid starts paying long term care expenses
Single Person
Protected Assets
- House (for 6 months)
- One Car
- Personal belongings
- $1500 cash value in life insurance
- Burial plot
- A few others
Uses savings, investments, insurance & income to pay their own long term care bills
Runs out of money: Medicaid starts paying long term care expenses
After being in nursing home for 6 months, person sells protected assets: House and Car
Pays long term care bills with cash from sale of assets.
Runs out of money: Medicaid starts paying long term care expenses
This is a very simplified view of Medicaid concerning a Long Term Care spend down. Consult with a professional for complete information!