I am 60 years old, my wife and I do not work and live off our accumulated savings. When searching for med insurance, we found that we qualified for Medicaid because we had no income to declare on our taxes. I am not purposely trying to cheat the system but the more I read I am concerned we may not actually be eligible. We were never asked about assets when applying. We have a retirement account and another year or so of savings to get us by.
Each state handles calculating the exempt assets for a couple differently, but the amount allowed varies from $23,800 to $119,220. It is true that $2,000 is an asset threshold, but before we pass that on we should be careful to specify that is for a single person.
Of course, none of us can predict what will happen to Medicaid in the coming years.
Once you "age out" of the Medicaid expansion (65) your assets are considered....and...you must spend down to $2,000 to qualify.
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