• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 13. Medicaid > Tactics for Reducing Assets Without a Medicaid Penalty, ...

Tactics for Reducing Assets Without a Medicaid Penalty, or Loopholes 101

You can achieve Medicaid eligibility in a number of ways that reduce the amount of your countable assets without incurring a transfer penalty.

If you need personal property such as a television or radio, buy it now. If you do not have a car and you are single, buy a car for no more than $4,500. If you are married and do not have a car, buy one for any reasonable price (no Rolls Royces, please). These items of personal property are noncountable and there is no transfer penalty for using your assets to buy these.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint