Medicaid Resource (Asset) Rules

The spouse of a nursing home resident—called the ‘community spouse’— is limited to one half of the couple’s joint assets up to $95,100 (in 2005) in “countable” assets (see Medicaid, Protections for the Healthy Spouse). The $95,100 figure changes each year to reflect inflation. In Florida, the community spouse is normally allowed to keep up to $95,100. However, with proper legal help, this figure can be increased.

In order to be eligible for Medicaid benefits a nursing home resident may have no more than $2,000 in “countable” assets.

All assets are counted against these limits unless the assets fall within the short list of “noncountable” assets. These include:

personal possessions, such as clothing, furniture, and jewelry;
one motor vehicle, valued up to $4,500 for unmarried recipients and of any value for the healthy (community) spouse;
the applicant’s principal residence, provided it is in the same state in which the individual is applying for coverage (the states vary in whether the Medicaid applicant must prove a reasonable likelihood of being able to return home);
prepaid funeral plans and a small amount of life insurance; and
assets that are considered “inaccessible” for one reason or another.