Understanding Medicaid Eligibility and Asset Limits

Understanding which assets count toward eligibility is crucial when qualifying for Medicaid. Many frequently ask, "What assets does Medicaid evaluate and count toward my eligibility?" This question is vital, especially when planning for your future and ensuring that you meet the necessary criteria.

Assets Considered for Medicaid Eligibility

Medicaid evaluates various types of assets to determine if you qualify for their benefits. Here are the key assets that are counted:

• Cash, Bonds, CDs, and Stock Investments: This includes money in bank or credit union accounts and investments such as stocks and bonds.

• Real Property: If you own more than one piece of real estate, such as properties that are not used as your primary residence and are not rented out or listed for sale, these properties will be counted as assets.

• Retirement Accounts: While you can structure certain retirement accounts so that they are not counted as assets, the income you receive from these accounts, such as required minimum distributions, is counted as income when determining Medicaid eligibility.

It's essential to keep these considerations in mind when planning for Medicaid eligibility. Knowing what counts and what doesn't can significantly impact your eligibility and your overall estate planning strategy.

Next Steps in Estate Planning

Understanding which assets are evaluated for Medicaid eligibility is just one aspect of a comprehensive estate plan. To ensure that your estate plan is tailored to your needs, consider consulting with an experienced attorney. They can guide you through the complexities and help you structure your assets in a way that best aligns with your goals.

The attorneys of atCause Law Office are dedicated to helping you navigate these challenges and create a plan that secures your future. If you have questions about Medicaid eligibility, asset management, or need assistance with your Florida estate plan, don’t hesitate to reach out to us at 727-477-2255.

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We strongly recommend you consult an attorney for specific legal advice tailored to your circumstances.