Sentences with phrase «of countable assets»

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

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

Not exact matches

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

Such assets are not countable for purposes of calculating FAFSA or Profile EFC.

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).

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.

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.

If you assign ownership of the policy to someone else, the cash value is no longer a countable asset to you.

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.