Registered: 1186346406 Posts: 1
Reply with quote #1
2009 Medicaid Information Source Charlie Robinson, Attorney at Law. Requirements for a single person to qualify for the Institutional Care (Nursing Home) Program in Florida are as follows: At least 65 years of age or disabled. Citizen of United States or an alien who has been admitted as a permanent resident. Resident of Florida. Anyone residing in a nursing home that is certified for Medicaid is considered to be a resident of Florida. Medical need for nursing home care as established by the CARES team of the Department of Children & Families (DCF). Assets of less than $2,000 at least one day of each month of Medicaid eligibility. If the individual's gross income is less than $743 per month, the individual is allowed to have up to $5,000 in assets. Monthly GROSS available income not to exceed the State Income Standard ($2,022 as of January 2009). Under no disqualification period during the lookback period because of transfer of assets or gifts in excess of $5,000 prior to November 1, 2007, and for gifts or charitable donations of any amount after November 1, 2007. Assets that are not counted in the $2,000 asset limit: Homestead - if the applicant intends to return home.
Homestead - if a dependent SSI-disabled child lives there.
Additional Property if rented or listed for sale at fair market value.
Property used in trade or business.
Vehicle - regardless of age or value.
Additional vehicle(s) - if seven years old or older unless it is a luxury model, an antique or customized.
Life Insurance - with no cash value. Life Insurance -with cash value - if the total face value of all life insurance policies is less than $2,500. Irrevocable burial contracts. $2,500 designated for burial expenses - revocable burial contracts, bank accounts designated for burial by notation in the title, or life insurance policies. One burial plot per family member. Retirement accounts that are making regular automatic periodic distributions. Assets that are counted in the $2,000 asset limit: Checking accounts
Savings accounts Brokerage accoun ts Certificates of deposit Stocks and bonds U.S. savings bonds Real Property Limited partnerships Life Insurance cash value if the total face value of all policies is greater than $2,500. Boats Loans Annuities IRAs not making regular payments Any resource or item of value owned jointly by the applicant. Income included in $2,022 limit: Social Security Civil Service Pension Annuity payments Retirements accounts Interest Dividends Alimony Rental income Life insurance proceeds
Long Term Care Insurance Income excluded from $2,022 limit: