What types of assets are exempt from being counted in determining Medicaid eligibility?

In California, there are certain assets that are exempt from being counted when determining someone’s eligibility for Medicaid. These assets are allowed to remain in the individual’s possession without impacting their ability to receive Medicaid. The most common exempt assets include the applicant’s primary residence, vehicles, burial plots and prepaid burial arrangements, personal possessions, life insurance policies, and certain amounts of cash. The Medicaid program will consider the primary residence of the applicant when determining eligibility. In general, the primary residence must be a reasonable size and value, and must be considered as the applicant’s only residence. The home may be worth up to $552,000 and still be exempt from the Medicaid countable assets limits. In addition, most vehicles are exempt from being counted when determining Medicaid eligibility in California. A car, truck, van, or other motor vehicle may have a value of up to $4,500 and may be exempt from being counted as an asset. This does not include recreational vehicles, such as ATVs or boats. Burial plots and prepaid burial arrangements owned by the applicant are also exempt from the Medicaid countable assets limits. Life insurance policies may be exempt if their total face value is less than $1,500. Lastly, a certain amount of cash is allowed to be kept or held by the applicant without impacting their eligibility for Medicaid. This amount varies depending on the applicant’s living situation. These assets are exempt from being counted when determining Medicaid eligibility in California, meaning they can remain in the individual’s possession and will not impact their ability to receive Medicaid.

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What types of assets are exempt from being counted in determining Medicaid eligibility?

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