Can I own a house and get Medi-Cal?

Can you qualify for Medi-Cal if you own a home?

➢ Do assets affect my eligibility? Starting on January 1, 2024, assets, such as bank accounts, cash, a second vehicle, and homes, will no longer be counted when determining Medi-Cal eligibility. Income and income from assets, such as income from property, will continue to be counted.

How do I protect my assets from Medi-Cal?

Proper elder law Medi-Cal planning is having all assets held in a decedent's revocable living trust to avoid both probate and Medi-Cal recovery. It is very important to plan for your loved ones by having a revocable living trust.

Can I sell my house while on Medi-Cal?

You can move out of the home, rent it, or sell it, all without affecting your spouse's Medi-Cal eligibility. However, there is an important timing issue here. For eligibility purposes, as an at-home spouse, you are only allowed to keep up to $137,400 in non-exempt assets (for 2022).

What is the new law for Medi-Cal in 2024?

Beginning January 1, 2024, a new law in California will allow adults ages 26 through 49 to qualify for full-scope Medi-Cal, regardless of immigration status. All other Medi-Cal eligibility rules, including income limits, will still apply.

Does owning a home affect Medicare?

Owning a home does not directly affect your Medicare coverage, but it can have implications for your overall financial situation, which may indirectly impact certain aspects of your Medicare Plan.

What is considered household income for Medi-Cal?

You are 19-64 years old and your family's income is at or below 138% of the Federal Poverty Level (FPL) ($21,597 for an individual; $44,367 for a family of four). You are a child 18 or younger and your family's income is at or below 266% of FPL ($85,519 per year for a family of four).

Can your house be taken for medical debt?

A creditor can't seize someone's house because of unpaid medical debt, but that doesn't mean your house isn't in jeopardy if the debt is large enough. If the debt ends up in court, a judge may place a lien on your house, which has to be paid before a homeowner can refinance or sell the home.

Do I have to pay back Medi-Cal?

The Medi-Cal program must seek repayment from the estates of certain deceased Medi-Cal beneficiaries. Repayment only applies to benefits received by these beneficiaries on or after their 55th birthday and those who owned assets at the time of death.

What is it called when Medicaid takes your house?

To compensate for multi-billion dollar Medicaid expenses, the federal government established the Medicaid Estate Recovery Program (MERP). This program requires states to recoup Medicaid payments made to benefit recipients 55 years and older. This also includes payments for assisted living.

How to avoid nursing home taking your house?

Can I qualify for Medi-Cal if I own a house?

Yes, you can. First, your primary residence is an “exempt asset” for purpose of the Medi-Cal eligibility process, meaning your primary residence is not counted as a resource for Medi-Cal qualification because it is an exempt asset.

Will I lose Medicaid if I sell my house?

Note: California stands apart from the other states. CA eliminated their Medicaid (Medi-Cal) asset limit effective 1/1/24. Medi-Cal applicants and beneficiaries can have unlimited assets and still be eligible for Medi-Cal. They could sell their home and it have no impact on their eligibility.

Can Medi-Cal take your house if it is in a trust?

If there is no probate estate -meaning all assets are held in a revocable or irrevocable trust there is no Medi-Cal Estate Recovery. If the recipient has a surviving child who is under the age of 21 or disabled, then the estate may not be claimed.

Does Medi-Cal check your assets?

As of January 1, 2024, all income-eligible people are able to access Medi-Cal's Aged and Disabled program, Medicare Savings Programs, and Long-Term Care programs regardless of assets. California is the first state in the nation to eliminate its asset test for ALL Medi-Cal programs.

How often does Medicaid check your bank account?

Medicaid agencies can check your account balances for bank accounts at any financial institution you've used in the past five years. They will check when you submit an application and on an annual basis, but checks can occur at any time.

Can Medi-Cal take my inheritance?

Estate Lawyer: Christopher B, Esq. Receiving an inheritance may impact eligibility for Medi-Cal benefits. As a recipient of government benefits, you may not have more than $2,000 in assets before your eligibility for government benefits will be affected. To avoid this from happening is to disclaim your inheritance.

How do I avoid Medi-Cal estate recovery?

The State of California is prohibited from the recovery of any Medi-Cal expenses used if there is a surviving spouse until the surviving spouse passes away. Also, if there is a minor child under the age of 21 or a blind child, or a disabled child, then the State is prohibited from any Medi-Cal recovery.

How do I shelter my assets from Medicaid?

Strategies for Medicaid Planning. Asset Protection through Irrevocable Trusts: Irrevocable trusts, such as Medicaid Asset Protection Trusts (MAPTs) and Special Needs Trusts (SNTs), are invaluable tools for shielding assets from Medicaid eligibility calculations and planning for long-term care expenses.

Can a nursing home take your house if it is in a trust?

Once your home is in the trust, it's no longer considered part of your personal assets, thereby protecting it from being used to pay for nursing home care. However, this must be done in compliance with Medicaid's look-back period, typically 5 years before applying for Medicaid benefits.