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Assets are things such as cars, checking and savings accounts, the home you live in and other real estate. There are different asset limits for different people and programs. In most cases, your home and a car will not count against the asset limit.
How many assets can I have and still get coverage?
How many assets you can have depends on which program you qualify for, your age and how many people are in your household. Some programs do not have an asset limit. There is no asset limit for pregnant women and children under 21. If you have more assets than the limit allows, call your county to see what your options may be. The limits below are effective March 1, 2011.
Can I get help paying for nursing home care or waiver services if I have more assets than the limit allows?
Medical Assistance (MA) helps pay for nursing home care and waiver services. There are special rules when MA pays for long-term care, either at home or in a facility like a nursing home. You may have to pay for some of your care before MA will pay, depending on the amount of assets you have. It is important that you:
The brochure Medical Assistance for People Living in a Nursing Home or Getting Elderly Waiver Services (PDF) gives you more information about how assets affect MA payment of long-term care services. (The brochure may take some time to open if using a dial-up Internet connection.)
If I get coverage will you put a lien on my house?
A lien is a claim on your house to get repayment of health care costs that the state paid. A lien may be filed against your house if you receive MA and
Ask your county if the state or county will file a lien.
Effective March 1, 2011
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