A Medicaid Care Plan answers all the tough questions about your loved one’s long-term care, now and in the future and provides valuable protection for individuals and their families. With a Medicaid Plan, the client gets the right care sooner, maximum independence for as long as possible, and the ability to age with dignity. Families get help finding the right care and services; guidance for legal, health care and long-term care decisions as the elder’s condition progresses. Planning sets forth how your loved one’s long-term care, financial, physical and psychological needs will be met and addresses how to maximize your loved one’s quality of life, until the end of life, and preserve wealth for your family’s future.
MEDICAID QUALIFICATION
EXEMPT ASSETS AND COUNTABLE ASSETS
EXEMPT ASSETS are assets that Medicaid will not take into consideration for qualification for Medicaid benefits.
The primary exempt assets are:
- Home
- Personal belongings and household goods
- Automobile for spouse
- Irrevocable prepaid funeral contracts and burial plots
- Life Insurance if face value is $1,500 or less
COUNTABLE ASSETS are all other assets that are usually non-exempt and are countable.
Some of the countable assets are:
- Cash, savings, checking accounts, certificates of deposit
- Savings Bonds
- IRA and other retirement accounts
- Real estate other than residence
- Boats or recreational vehicles
- Stocks and mutual funds
Key Medicaid Information for Ohio for 2017
Protections for the Community Spouse
| Community Spouse Resource Allowance (CSRA): | Minimum: $25,284 Maximum: $126,420 |
| Increased CSRA: | Permitted through appeal. Ohio follows the income-first rule. |
| Annuities: | Annuities purchased prior to the first continuous period of institutionalization are given some protected status.* |
| Monthly Maintenance Needs Allowance: | Minimum: $2,003 Maximum: $3,023 |
| For explanation, click here. | |
Transfers
| Average monthly cost of nursing home care according to state: | $6,570 |
| For explanation, click here. | |
| Has a Long-Term Care Partnership program been implemented? | Yes |
| For explanation, click here. | |
Income
| Is the state an “income cap” state? | No |
| For explanation, click here. | |
Estate Recovery
| Has the state expanded the definition of “estate” beyond the probate estate? | Ohio has significantly expanded the definition of “estate” to include almost everything a person owns at death. It is important to check with a qualified elder law attorney for advice regarding post Medicaid eligibility planning. |
| Has the state included a hardship provision in its estate recovery plan? | Yes |
| For explanation, click here. | |
Home Equity Limit
| The state Medicaid program will not cover long-term care services for those with home equity above this limit, with certain exceptions. |
