The Medicaid program helps pay for long term care (nursing home, assisted living, or in-home care) for many seniors. The Medicaid rules allow the patient and the patient’s spouse to keep certain amounts of their savings and certain amounts from their monthly income. As of January 2017, Ohio’s Medicaid program allows the following amounts:
Savings patient can keep: $2,000
Savings spouse at home can keep: $25,728 – $128,640
Monthly income patient can keep: $50
Monthly income allowance for spouse: $2,114 – $3,216
Monthly housing allowance for spouse at home: $634.20
Monthly utility allowance for spouse at home: $548
What Medicaid pays nursing homes each month: $6,905
Limit on equity in home: $572,000
Monthly gross income above $2,349 triggers the need for a Qualified Income Trust (aka Miller Trust)
A more complete list of financial standards for Medicare and Medicaid eligibility is maintained here by Pro Seniors. (It uses lots of acronyms.)
This information is provided to further the mission of
The Koewler Law Firm
“Protecting Seniors and People with Special Needs.”
For help with long term care, with deciding how to deal with chronic illness,
or with planning for someone with special needs,
call Jim, or contact him through this website.