Asset Test
In Florida, Medicaid eligibility depends on the amount of assets that are available to the individual The maximum amount of assets that are allowable depend on whether the person is married or single. For a single person, you are only allowed to have $2000 of non-exempt assets. For a married person, the family can have is $104,400 of non-exempt assets.
The assets that count include cash in banks, brokerage accounts, stocks, some life insurance and some automobiles.
The assets which are exempt include:
If you have questions about Medicaid or would like more information about Medicaid in Jacksonville or other areas of Florida, CONTACT our Florida Elder Law Lawyers by email or call us at 904-685-1200 to discuss your situation today. For Medicaid related issues we offer a free 30 minute initial consultation and additional time is billed at hour standard hourly rates. When employed to work on Elder law issues, any fees for the initial consultation will be credited to the new retainer.
The assets that count include cash in banks, brokerage accounts, stocks, some life insurance and some automobiles.
The assets which are exempt include:
- Automobiles - The First Car can have any value and a Second car that is more than 7 years old.
- Life insurance with face value of $2500 or cash value up to $2500
- Prepaid irrevocable Burial Plots that are in your name
- Most Personal property and belongings
- The principal in some annuities or other qualified retirement plans
If you have questions about Medicaid or would like more information about Medicaid in Jacksonville or other areas of Florida, CONTACT our Florida Elder Law Lawyers by email or call us at 904-685-1200 to discuss your situation today. For Medicaid related issues we offer a free 30 minute initial consultation and additional time is billed at hour standard hourly rates. When employed to work on Elder law issues, any fees for the initial consultation will be credited to the new retainer.
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