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When A Nursing Home Resident Qualifies for Medicaid Are There Any Rules On The Remaining 2000 In Assets

When A Nursing Home Resident Qualifies for Medicaid Are There Any Rules On The Remaining 2000 In Assets

As soon as a patient in an assisted living home decreases possessions to get approved for Medicaid, exactly what are the guidelines on the staying money ($ 2,000 in my state) in the savings account?

The only guidelines for the staying $2,000 are that (1) the cash should be invested just for the Medicaid recipient and (2) it might not surpass $2,000. Nevertheless, with regard to the 2nd guideline, it might surpass $2,000 briefly because earnings is not dealt with as a possession up until the following month. For instance, expect a Medicaid recipient has $1,500 in the bank and on June 3rd she gets a Social Security payment of $800, bringing the bank balance as much as $2,300. This is not an issue as long as the cash is invested down so that by June 30th the balance is back under $2,000.

Tina