Most states look at an applicant's assets and income. Medicaid is a joint federal-state program, so each state can be different from what is stated in this article. Some states even allow counties to develop their own qualification criteria. I highly recommend the agent consult with his or her local Medicaid office to obtain the specific details of the program in his area. It may take several calls to find the right person, the agent will be happy he was persistent.
Exempt assets range from a home to a wedding ring.
After an exempt asset is identified many states add contingencies to keep it exempt. Most states will combine all countable assets of the husband and wife, assign half to the nursing home resident and half to the community spouse, then determine if each meets the financial criteria. Prenuptial or other kinds of agreements that split ownership of a couple's assets are not valid when qualifying for Medicaid. The income test also varies by state. Many states simply consider the applicant's income versus the cost of care.