FLORIDA MEDICAID 2012

MEDICAID 2012

MEDICAID QUALIFICATIONS 2012 during and after Application Process

• Medicaid applicant available asset limit in 2012 is $2000.
• Medicaid applicant gross income limit in 2012 is $2094.
• Community Spouse available asset limit in 2012 is $113,640.
• Home Equity Exemption in 2012 is $525,000.
• Assets below the Medicaid limit one day of the month of application.

MEDICAID APPLICANT

During Application: Asset Limit under $2000---Income Limit under $2094

After Approval: Asset Limit under $2000 ---Income Limit under $2094.

COMMUNITY SPOUSE

During Application: Asset Limit under $113,640---Income Limit No Limit

After Approval: No Limit---Income Limit No Limit

Qualifications for Florida Institutional Care Program (ICP) Medicaid

• Appropriately placed in a nursing home.
• Determination by personal physician.
• Evaluation done by CARES unit of Department of Elder Affairs (DOEA).
• Assets for Medicaid applicant under $2,000 one day of every month of Medicaid benefits.
• Income for Medicaid applicant under $2,094 or a Qualified Income Trust (QIT) in place and funded.
• Gross income includes any deductions such as Medicare Part B premium deduction from Social Security.
• Qualified Income Trust must be established and gross income deposited in QIT account the first month of qualification.
• Income must be deposited into QIT account each month.
• Under no transfer penalty.
• A transfer of assets for less than market value to somebody other than a spouse causes a period of ineligibility.
• Application for Medicaid benefits is not made until all of the abovfe criteria have been met. Applying too soon may cause additional disqualification for benefits.

See my website: www.charlie-robinson.com for details.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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