Does Owning a Home Disqualify Me from Medicaid
These times we live in are so precarious that from one moment to the next, none of us are sure of our retirement future. The stock market fluctuations, the changing political landscape and the rules attached to retirement income all work together to create a growing industry of anti-depressants and acid reflux medicines. However, does owning a home disqualify me from Medicaid? The sad answer is that yes, sometimes it does, and sometimes it does not. The rules are so convoluted and complex that the agent reviewing your taxes in order to determine eligibility almost has it within their power to go either way. It is subjective, and the state of our retirement plans lies in the balance.
Does Owning a Home Disqualify Me from Medicaid?
So, does owning a home disqualify me from Medicaid? Not necessarily, as long as your value is below the standard for acceptance and the person reviewing your claim is having a good day.
Medicaid Eligibility Home Ownership
Concerning Medicaid eligibility home ownership, there are limits of available assets that one can have concerning Medicaid. If you are within those limits as a home owner, then you are all set. If however, you are slightly over, there is some discrepancy on the part of the reviewer as to your eligibility.
Medicaid Rules for Selling Home
To learn more, check out the online resources about Medicaid rules for selling home properties in order to reduce your asset load. You may not have to sell if your value is below the threshold.
Medicaid and Property Transfer
So, does owning a home disqualify me from Medicaid? It can, depending on the translation of the federal laws your tax auditor is applying. At times, the amount for personal assets is set strictly on your level, while at other times, the logic sets in and the auditor will cut you a break. It simply means that if they are in a good mood, you will be able to keep your home as well as apply for Medicaid. The chances are slippery and reading reviews on line about certain filing agents can help you make the right choice. Now, if you live in a million-dollar home, then no fancy accounting on anyone’s part is going to make you eligible. But, if you own a home outright under a the $100,000 assessed value mark, you may be able to get away with keeping your house under your name and being eligible for Medicaid and property transfer status. It all depends on who you get to fill out your application for you.
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