Idaho’s Medicaid program provides benefits for those in need of long-term care. Elderly and disabled individuals will not be immediately eligible for Idaho Medicaid’s long-term care benefits unless the value of their “Countable Resources” is $2,000 or less. Individuals seeking eligibility for Idaho Medicaid’s long-term care benefits must provide complete transparency to the Idaho Department of Health and Welfare – which does an excellent job of administering Idaho’s Medicaid program. Applicants must provide comprehensive financial documentation to the Department to allow the Department to make a determination regarding the applicant’s eligibility for long-term care benefits.
The term “Countable Resources” is defined by numerous federal and state statutes and regulations. Generally speaking, countable resources are all assets an individual or spouse may liquidate to obtain cash. Most often an applicant’s countable resources include cash, certificates of deposit, stocks, mutual funds, land, and other personal property. At this point you might be asking the obvious question: what assets are not considered countable resources?
An applicant’s residence is not considered a countable resource in most circumstances. Additionally, an applicant may keep up to $2,000 in cash as well as a few personal belongings. An applicant’s spouse might be able to keep substantially more than the applicant. Please seek guidance from a competent Idaho Medicaid planning attorney to learn more.