Are you a resident in Washington curious to learn more about Medicaid? Are you in need of long-term care, or do you believe you may have long-term care needs in the future? If so, then it is important to understand everything you can about the way the state handles Medicaid.
For example, you must first determine if you are eligible for Medicaid. This is how Washington law determines eligibility.
What long-term care programs does Medicaid offer?
There are different long-term care plans available to seniors in Washington. Each comes with its own eligibility requirements. Additionally, your marriage status can affect your eligibility.
You can pursue a program depending on your level of need. Some people require more intensive care than others. For example, if you become physically disabled or begin to have issues with memory loss, you may need institutional care rather than at-home care.
How does income affect your eligibility?
Your income level plays the primary role in determining your eligibility for long-term Medicaid programs. For example, say you are a single person looking for medical coverage. If you wish to apply for nursing home Medicaid, your income cannot be more than $2,313 per month. Your asset limit is $2,000. The state defines income as any money you receive. Assets include cash, bank accounts, stocks, bonds and investments, to name a few, but there are exemptions depending on your situation.
When both spouses are applying for nursing home Medicaid, the income limit is $2,313 per month each, and the asset limit is $3,000 for both together. If only one spouse applies, the other does not have an income limit, but the asset limit is $126,420 for the nonapplicant.
If you are over the income or asset limit but still require Medicaid, there are options for you. Medicaid planning allows you to employ strategies that can get you eligibility for the coverage you need.