The Medicaid program is only available to people who can demonstrate a significant level of financial need. As such, there is indeed an asset limit. For a single individual, this limit is $2000. The $2000 limit is certainly attention-getting, but fortunately, some things that you own are not countable. The biggest asset that is not counted is your home, but in Connecticut, there is an equity limit that stands at $828,000 during the current calendar year.
Topics covered in this report include:
- Medicaid Eligibility
- Proper Planning Can Prevent a Conservatorship - September 16, 2021
- The Tax Man Cometh: Adjust Your Estate Plan Now - September 14, 2021
- Does Medicaid Seize Remaining Assets in a Special Needs Trust? - September 9, 2021