Medicaid

The following briefly describes the steps to determine resource eligibility for an institutionalized married individual based on a Division of Assets. Definitions:  Under a Division of Assets, the spouse not in need in care (the Community Spouse) may be allowed to keep a portion of the family’s assets, while the spouse in need (the Institutional […]

If the claimant has property, which was willed to him or to his spouse, the exact terms of inheritance must be secured from the will.  The claimant or his spouse may share the inheritance with other persons and hence own only a proportionate share of its net real value, or may have only a life […]

When property is owned by two or more persons, other than husband and wife, or by a divorced couple, it is most often called ‘tenancy in common’.  Each person owns an equal share in the property unless otherwise specified in the deed or in the will, if the property was acquired by inheritance.  This means […]

MOHealthNet will disregard assets if the applicant owns a long term care policy that meets certain requirements.  Medicaid caseworkers will disregard assets or resources equal to the amount of long-term care benefits paid on behalf of an individual if the long-term care policy meets the requirements of a state certified qualified long-term care partnership policy. […]

The Midwest Special Needs Trust (MSNT) provides a method for relatives and other individuals or entities to contribute to the supplemental care of disabled persons. Cash and other liquid assets in the form of stocks or bonds, money market funds and treasury bills may be contributed to the trust. Also, receipts from insurance policies, annuities, […]

Other types of property that may be considered an available resource or transfer include: Mineral Rights Timber Rights Easements Leaseholds Water Rights Life Estates Remainder Interests The equity value of these properties is only excluded if the property: is a life estate or remainder interest is used in the course of a participant’s trade or […]