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COUNTABLE RESOURCES FOR IDAHO MEDICAID

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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.

Applicants with countable resources valuing in excess of $2,000 should either spend down their countable resources then re-apply for benefits, or meet with a competent Medicaid planning attorney to come up with a plan. Often times the implementation of a plan composed by an Idaho Medicaid planning attorney will result in an elderly or disabled individual becoming eligible for Idaho Medicaid’s long-term care benefits relatively quickly.

The attorneys at Racine Olson can help you prepare and implement a plan to obtain eligibility for Idaho Medicaid’s long-term care benefits. We regularly assist individuals with completing Idaho Medicaid applications and communicating with the Medicaid application team to ensure our clients receive benefits as quickly as possible.

This website includes general information about legal issues and developments in the law. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and must not be taken, as legal advice on any particular set of facts or circumstances. You need to contact a lawyer for advice on specific legal issues.

 

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