Medicaid Income and Resource Levels

4t is imperative, before developing a spend down plan, that we evaluate the ownership of assets using the rules set by the Department of Social Services, such as the rules concerning joint accounts.

2024 level for the Applicant

• $33,175     
• Prepaid Funeral in an Irrevocable Trust
• $1,500 Face Value of Life Insurance
  If the total face value of the policies exceed $1,500 the entire cash value counts as an asset.

2024 Resource Allowance for a married couple at Home:

• $42,312

Income Allowance for Nursing Home resident:

• $50 a month

2024 Income Allowance for Home Care:

• • Single person: $1,732
  • Married Couple: $2,351

*There is also a $20 disregard for over 65 or disabled.

Note: Veterans or widows of a veteran, may be eligible for Aid and Attendance benefits. This income is not countable for Medicaid. You should contact the local Veterans Administration Counselor.

Exempt Transfers of the house may be made to:

• Spouse
• Primary Caregiver – a child that has lived with a parent and kept them out of a nursing home for 2 years
• Siblings with an equity interest who have lived together 1 year
• Disabled child of any age
• Children under 21

Exempt Transfers of assets may be made to:

• Spouse
• Disabled child of any age