How Much Life Insurance Can I Have And Still Qualify For Medicaid? 
This varies by state , but the minimum amount is usually $ 1,500 . Sometimes you read that $ 1,500 of the cash value is exempt -LRB- a noncountable asset -RRB- . Sometimes you read that $ 1,500 of the face amount is exempt during a Medicaid spend down . You can contact your State Medicaid Program to get the criteria for your particular state . This website can help you find the correct phone number . WEBSITELINK 