Married Couples

How does Medicaid effect a married person?

What happens when only one spouse goes to a nursing home? What is done with their assets and posessions? How is the spouse that is not in the nursing home protected? Not to worry, there are a tremendous number of things that can be done to protect assets.

First, please understand that the spouse not going into the nursing home will get to absolutely keep one half of the assets not on the list below, up to $109,560. Yes, you can keep almost $110,000 (yours plus the other spouse’s $2,000) and your spouse qualify for services if we start with more than twice that amount at the time of admission (snapshot date). The half that has to be spent, is then spent to benefit the spouse not in the nursing home. We can improve the home, purchase a new vehicle, household furniture, etc. If planning is done correctly, we can spend half of the assets in a matter of a month or so and practically none of the money is wasted while benefiting the spouse not in the nursing home.

The following is a list of things a person can own and still qualify for services:

• $2,000 in cash total

• a Home and the land attached to it (up to $500,000 in value)

• a vehicle (unlimited in value)

• household furnishings

• pre-paid burial policy (an irrevocable burial plan can be unlimited, otherwise $1500 can be designated for burial

Money can be spent on any of these items without fear of being disqualified. As a single person, that is not a huge benefit unless you want a family member to assist you and some of these items can be purchased but used by a family member or friend to assist you. Please be careful, all purchases will be scrutinized as you go through the application process. How do you get the money to your heirs? See the gifting paragraph below for a full discussion.