Quick Answer
Exempt assets are those that Medicaid does not consider when determining your eligibility for Medicaid long-term care benefits.
Detailed Answer
Exempt assets in Medicaid long-term care do not affect your Medicaid eligibility. These assets are not counted against you when determining if you qualify for Medicaid long-term care benefits.
Common exempt assets may include:
-
Primary residents (if you or your spouse live there)
-
A single vehicle
-
Personal belongings
-
Some money within retirement accounts
You do not have to sell or spend down exempt assets to meet Medicaid eligibility requirements. However, rules vary by state. It's essential to stay up-to-date on your state's requirements.
LTC News Trusted & Verified
Work With a Trusted Specialist
Get Accurate Long-Term Care Insurance Quotes
- Has substantial experience in Long-Term Care Insurance
- Strong understanding of underwriting, policy design, and claims experience
- Represents all or most of all the leading insurance companies
