Medicaid Information
Most people wrongly assume that if they apply for admission to a nursing home, they will lose their assets or that they will be taken to pay for nursing care. The fact of the matter is that as long as one can pay for their own care, there is no loss of assets as all. Furthermore, most folks can retain significant assets and still qualify. For example the following are exempt assets and will not be counted as assets at all in the event of an application for Medicaid:
 | The Residence - The first $500,000 of equity in the residence is excluded. As long as the Medicaid recipient intends to return home, the residence is exempt, even if the recipient never actually returns home and there is no ability on his or her part to do so. |
| Household goods and personal belongings |
| One motor vehicle, regardless of its value. |
| The IRA of the community spouse is exempt. |
| Cash to the extent that it does not exceed $2,400. In some cases, where monthly income is below $1,809 there is an additional $6000 set aside and the total amount which can be kept is $8000. |
| Irrevocable burial reserves as long as the amount is reasonable. |
| Burial plots for the applicant and his or her immediate family. |
| Cash value of life insurance policies to the extent that the face value of all policies together do not exceed $1500. If the total does exceed $1500 in face value, then the cash value of these policies in excess of $1,000 is countable. Term life insurance is exempt, since it has no cash value. |
| Property used in a a trade or business. This is a seldom used exemption since the person applying for Medicaid assistance is generally no longer engaging in a trade or business. |
All other assets are countable and must be expended by the applicant prior to qualification for medical assistance.
Additional updated and comprehensive information is available from the Pennsylvania Department of Public Welfare