![]() If your spouse goes into a nursing home, it doesn’t mean you have to sink your hard-earned savings and retirement accounts into expenses for your institutionalized spouse. How to Protect Assets if Your Spouse Goes into A Nursing These are things that can be avoided and planned for in advance to maximize the dollars both you and your spouse can have available in this situation. The government would extend the ineligibility according to the value of the assets and the state’s average rate for nursing home care. Gifts could make the spouse in the nursing home ineligible for a certain period. Once calculated, the government does not count this as income when deciding if the institutionalized spouse qualifies for Medicaid.Īdditionally, suppose you or your spouse are trying to get on Medicaid and have given assets to your family members in the last five years. Hawaii is $2,505.00, and Alaska’s MMMNA is $2,721.25 due to the higher cost of living in both states. Medicaid’s spousal protection laws stipulate a minimum of $2,177.50 per month in 48 states, including the District of Columbia. The calculation determining how much money a community spouse keeps is called the minimum monthly maintenance needs allowance (MMMNA). What Is the Minimum Monthly Maintenance Needs Allowance (MMMNA)? There are other ways that assets can be protected in addition to the generic legal rights of the institutionalized spouse. Conversely, if the community spouse’s income level is low, they may be entitled to a portion of the income of the spouse going into the nursing home (known as the “institutionalized spouse”). Unless their income is above a certain threshold, the community spouse will not need to help with the nursing home costs even if they are still working. ![]() ![]() Known as the community spouse resource allowance (CSRA), this regulation allows the community spouse to receive up to $137,400 from the couple’s assets. The spouse not living in the nursing home (known as the ‘community spouse’) is usually allowed to preserve up to half of the couple’s assets. The state you live in will decide your spouse’s eligibility and will only count your spouse’s assets when calculating Medicaid eligibility. When your spouse goes into a nursing home, they might be eligible for Medicaid to pay for their care. What Happens to Your Assets When Your Spouse Goes into a Nursing Home?
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