In order to qualilfy for Medi-Cal benefits for long-term care, an applicant must pass a two- prong test:
(a) Assets and (b) Income
(a) ASSETS
To qualify for Medi-Cal nursing home benefits, a single applicant cannot have more than $2,000. in countable assets.
A community spouse (married couples) may keep up to $115,920 in countable assets.
However, Medi-Cal considers certain assets to be “exempt” from the above countable asset requirements.
What are non-exempt assets?
Generally, “non-exempt” assets are assets that are readily available to you and therefore could be used to pay for your care. This includes property such as:
- Cash
- Checking and savings accounts
- Certificates of deposits
- Stocks and bonds
- Mutual funds
- Real property other than your home
- Promissory notes
What are exempt assets?
The following property is generally exempt and therefore, not counted in determining Long Term Care Medi-Cal eligibility:
The home: totally excluded, if it is the principal residence. The applicant must state an intent to return to the home. Includes mobile home, houseboat, or an entire multi-unit dwelling as long as any portion serves as the principal residence of the applicant.