Let’s cut to the chase – you’re a proud homeowner, but you’ve been wondering, “Can I own a home and get Medicaid?” This is a question that echoes in the chambers of countless American homes. So, let’s pop this mystery bubble right away – yes, you can own a home and qualify for Medicaid!
The Medicaid program, with its mind-boggling maze of rules, does indeed exempt one’s primary home from the asset test. But hold on! This isn’t as simple as it sounds. There are certain caveats to consider. Let’s take a closer look, shall we?
Your home will be exempt from the Medicaid asset test as long as you, the applicant, live in it. However, if you ever need to move into a nursing home, Medicaid might put a lien on your home to recoup costs. But rest assured, this only happens if you’re not expected to return home.
Now, what about the home’s equity? If the equity value of your home exceeds $603,000 (in some states, up to $906,000), you may be ineligible for Medicaid. But don’t let that number scare you! There are exceptions to every rule, especially for spouses and dependent children living at home.
The important thing to remember is this: every state has slightly different rules regarding Medicaid eligibility. It’s like a game of Monopoly with its own set of house rules!
“But what if I don’t qualify?” you ask. This is where Vandergrift Insurance Group, your health insurance superheroes, step in! Even if Medicaid is out of reach, Vandergrift Insurance Group can help you find an affordable plan that suits your needs. And, here’s the best part, you might even qualify for a cost-sharing reduction option that offers a $0 or very low deductible. Yes, we said zero!
Vandergrift Insurance Group will navigate the stormy seas of the health insurance market for you, guiding you to the safe harbor of a plan that aligns perfectly with your budget and healthcare needs. And their guidance? It comes at absolutely no cost to you!
So, dear reader, own your castle and rule it too! With the right information and a helping hand from Vandergrift Insurance Group, you can certainly own a home and secure the health coverage you need.
