Sentences with phrase «countable assets»

There are some exceptions, but in general an individual must have less than $ 2000 in countable assets before Medicaid will pay for LTC.

The state may limit the amount of countable assets an individual or household can possess to be eligible for Medicaid coverage.

Now it's true that your primary residence and one car are not considered countable assets.

There are some exceptions, but in general an individual must have less than $ 2000 in countable assets before Medicaid will pay for LTC.

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

They say countable assets, but with a family of 7, you can't live on $ 2,000 too easily for 1 month unless you have no debt and no rent / mortgage).

This tax is in addition to any Federal estate taxes that might be due and is enforced once an estate reaches countable assets of $ 338,333.

Now it's true that your primary residence and one car are not considered countable assets.

And married couples living in the same house are only allowed $ 3000 in countable assets.

The state limits the amount of countable assets a household may possess to be eligible for Medicaid coverage.

Thanks to our tax code, cash value is not a countable assets on the FAFSA application for college financial aid.

If the children own the policy, there is a substantial likelihood that the life insurance premium will not be included in the parents» countable assets, which is also beneficial in terms of Medicaid eligibility requirements.

Regardless whether the policy is a whole life or universal life policy, is recognized as a countable asset.

Designed to transfer a creditor - protected stream of income to beneficiaries, this new life policy may not be considered as a countable asset for Medicaid purposes.

According to Medicaid regulations, the cash value in almost all life insurance policies is considered a countable asset.

And married couples living in the same house are only allowed $ 3000 in countable assets.

Regardless whether the policy is a whole life or universal life policy, is recognized as a countable asset.

The purchase of a Single Premium Immediate Annuity can be advantageous in the countable asset calculation, because it can be earmarked as a separate income stream and is not subject to liquidation of assets used to pay confinement care type costs.

If someone had an income of say 300K and countable assets of 500K, a 150K gift would NOT make a difference as there EFC is so high they would likley be expected to pay for the entire cost of almost any school out there EITHER way.