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StuckOnStupid

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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.

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  • 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.

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  • Medical need for nursing home care as established by the CARES team of the Department of Children & Families (DCF).

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  • 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.

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  • Monthly GROSS available income not to exceed the State Income Standard ($2,022 as of January 2009).

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  • 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.

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  • Homestead - if a dependent SSI-disabled child lives there.

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  • Additional Property if rented or listed for sale at fair market value.

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  • Property used in trade or business.

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  • Vehicle - regardless of age or value.

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  • Additional vehicle(s) - if seven years old or older unless it is a luxury model, an antique or customized.

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  • Life Insurance - with no cash value.  

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  • Life Insurance -with cash value - if the total face value of all life insurance policies is less than $2,500.

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  • Irrevocable burial contracts.

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  • $2,500 designated for burial expenses - revocable burial contracts, bank accounts designated for burial by notation in the title, or life insurance policies.

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  • One burial plot per family member.

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  • Retirement accounts that are making regular automatic periodic distributions.


 

Assets that are counted in the $2,000 asset limit:

 

  • Checking accounts

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  • Savings accounts

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  • Brokerage accounts

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  • Certificates of deposit

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  • Stocks and bonds

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  • U.S. savings bonds

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  • Real Property

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  • Limited partnerships

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  • Life Insurance cash value if the total face value of all policies is greater than $2,500.

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  • Boats

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  • Loans

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  • Annuities

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  • IRAs not making regular payments

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  • Any resource or item of value owned jointly by the applicant.


 

Income included in $2,022 limit:

 

  • Social Security

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  • Civil Service

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  • Pension

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  • Annuity payments

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  • Retirements accounts

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  • Interest

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  • Dividends

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  • Alimony

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  • Rental income

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  • Life insurance proceeds

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  • Long Term Care Insurance


 

Income excluded from $2,022 limit:

 

  • Vendor payments

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  • Aid and Attendance from Veterans Administration

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  • Life insurance dividends

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Agent-in-Charge

The Trust Group
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