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The permissible asset limit is determined by your gross income: If the monthly gross income is $2,742 or less [2023], the maximum asset limit is $8,000. If the monthly gross income is $2,743 or more [2023], the maximum asset limit is $2,400.

To qualify, a qualified spend-down must be carried out until the maximum asset limit is attained. For example: If there is $50,000 in savings and the asset limit is $8,000, a $42,000 spend-down is required. Note: In cases where there is a spouse in the community, additional determining factors may come into play to protect a significant portion of assets and income, if necessary.

Indeed, one house and one automobile are excluded from the total asset calculation unless they are liquidated. However, it is imperative to disclose them on the MA application, and a copy of the deed and title must be furnished. In cases where there is no community spouse, and the resident does not intend to return home, the County will anticipate the sale of the home. Once the home is sold, the MA recipient will be disqualified from receiving Medicaid until another spend-down is executed, bringing total assets below the resource maximum for MA qualification.

The determination of acceptance might take a few months. Following the completion of the initial application review and the signing of all necessary forms and consents by the resident or Power of Attorney (POA), it may take several weeks to gather all the required documentation. Obtaining support documentation is the responsibility of the resident, POA, or family. Upon submission of the application, the County has a 30-day period to review and verify financial information. Based on their findings, they may request additional documentation for specific items before making a final acceptance decision.