For many seniors, Medicaid can be a financial lifeline, covering medical expenses, long-term care, and services that private insurance or Medicare won’t. But qualifying for Medicaid isn’t as simple as having a low income. The program also has strict asset limits, and certain holdings, even ones you might not think of as “wealth,” can push you over the threshold without you realizing it. This can result in losing your eligibility, being forced to spend down your savings, or even having to sell property you intended to keep in the family.
What makes it more complicated is that Medicaid rules vary by state, and they’re not always intuitive. The assets you assume are “safe” might be counted against you. That’s why it’s crucial to know what could put your coverage at risk before you apply or while you’re receiving benefits. Here are seven assets that could unexpectedly disqualify you from Medicaid and what you can do about them.
