Maryland Medical Assistance pays for nursing home care for those who medically require it, but cannot afford it. When calculating whether or not someone meets the financial requirements for Medical Assistance, there are certain assets that may have value to the Medical Assistance applicant and their spouse but do not count as resources the purposes of Medical Assistance eligibility. Single people applying for medical assistance are allowed to have $2,500. When the medical assistance applicant has a spouse in the community, the community spouse can keep 50% of their assets up to $123,600 or 100% of their marital assets up to $24,720, whichever is higher.
Below is a list of some of the most significant assets that can be excluded.
- A residence. A home that an applicant intends to return to or their spouse resides in does not count as a resource for eligibility provided it is worth less $572,000.
- Vehicles. Both the community spouse and the medical assistance application are allowed to own a single vehicle in their name.
- Prepaid Funeral Expenses. Both the community spouse and the medical assistance application are allowed to prepay funeral expenses.
Whether you need Medical Assistance soon because of a recent health problem or if you want to plan ahead to protect you and your family, Dennis M. Twigg can assist you in making sure your elder law need is handled properly and professionally. If you need help with your medical assistance matters, get in touch today by calling (410) 848-4444, or to see what others have said about us, please read our client testimonials.