Medicaid

Medicaid & Long Term Care:

A simplified View

From the consumer publication “Guide to Long Term Care Insurance” by the Ohio Department of Insurance.

Full publication available here (click)

  • Married Couple

    Spouse at home keeps

    • House 
    • Furnishings
    • One Car
    • Half of joint assets – up to $123,600 for 2018
    • Up to $3,090 in monthly income in 2018

    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!