Who Is Eligible for Medicaid Long Term Care Insurance?
Medicaid Long Term Care Insurance is a government-sponsored program that provides financial assistance for long-term care services for individuals who meet certain eligibility criteria. Generally, to be eligible for Medicaid Long Term Care Insurance, a person must meet the following requirements:
- Income: The applicant’s income must be below a certain level, which varies by state. In many states, the income limit is set at 300% of the federal poverty level.
- Assets: The applicant’s assets, such as savings, investments, and property, must also be below a certain limit. This limit varies by state, but in many cases, liquid assets it is around $2,000 for an individual, excluding their home, car and other exempt property.
- Age/disability: The applicant must be elderly or disabled and require long-term care services, such as nursing home care or in-home care.
- Citizenship: The applicant must be a U.S. citizen or a legal resident.
It is important to note that Medicaid Long Term Care Insurance eligibility criteria may vary by state, so it’s important to check with your local Medicaid office or a Medicaid planning attorney to determine eligibility in your area.