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.
